Eleven Picasso paintings brought in over $100M.
On 2017’s “Slide” by Frank Ocean, Offset raps, “Walk in my mansion, $20,000 painting, Picasso.”
While hanging a $20,000 piece of art on your mansion wall will always be a flex, Offset may have underestimated just how much that Picasso painting is worth. On a record inspired by the painter himself, nonetheless.
This weekend, at the Bellagio hotel in Las Vegas, eleven Picasso paintings were auctioned off for more than $100 million combined.
The auction, held in partnership by Sotheby’s and MGM Resorts, was a move intended to diversify the MGM Resorts Fine Art Collection, which currently boasts around “900 works from 200 artists.”
The eleven paintings had been on display at the Bellagio, the same place they were auctioned off.
Picasso’s 1938 masterpiece, “Femme au beret rouge-orange,” or “Woman in a reddish-orange hat,” received the highest winning bid of the whole auction, selling for $40.5 million, between 10 and $20 million more than initial projections. “Homme et enfant,” sold for $24.4 million, while “Buste d’homme” sold for $9.5 million.
“Le Dejeuner sur l’herbe,” sold for $2.1 million, quadrupling initial estimates and “a sculpted white pitcher known as “Aiguière – Visage” was initially valued at between $60,000 and $80,000, but up going for a surprising $315,000.”
MGM Resorts says the MGM Resorts Fine Arts Collection intends to replace the auctioned items with 12 more Picasso pieces and that the new Picassos will also be displayed in the Bellagio.
While none of the buyers names were disclosed, it will be interesting to see if any of items sold at auction will pop up anywhere notable. Keep it locked to HNHH for updates on these eleven Picasso pieces and, in the meantime, go spin “Slide” by Frank Ocean to get your Monday started off right.