Eleven works by Pablo Picasso belonging to the American hotel-casino group MGM Resorts, including a portrait of his French muse Marie-Thérèse Walter, brought in 108.87 million dollars (93.5 million euros) during a auction organized on Saturday by Sotheby's at the famous Bellagio Hotel in Las Vegas known for its art collection.
The jewel of this sale, two days before the 140th birthday of the Spanish painter, was the famous painting "Woman with a red-orange beret", one of the last portraits made by the artist of Marie-Thérèse Walter, her muse and lover. from the 1930s.
#AuctionUpdate Closing out tonight's sale, Woman in a Red-Orange Beret sells for $ 40.5 million.
Painted in January 1938, the portrait of his beloved muse Marie-Thérèse Walter stands as a crowning achievement amid one of Picasso's most inspired and productive periods #SothebysxMGM pic.twitter.com/v4sCY19pDE
- Sotheby's (@Sothebys) October 24, 2021
The work, estimated between 20 and 30 million dollars, sold for 40.47 million.
Picasso painted the mother of his daughter Maya in January 1938 when he already had an affair with photographer Dora Maar, during "one of Picasso's most inspired and productive periods", "according to Sotheby's.
Two other iconic portraits executed by the painter during the last years of his life were sold, "Man and Child" for $ 24.39 million and "Bust of a Man" for 9.45 million - either below the initial estimate of 10 million.
#AuctionUpdate Showcasing the power and complexity that defines Picasso's late work, Homme et enfant sells for $ 24.4 million.
At nearly 2 meters tall, the 1959 work is a hugely impressive example of Picasso's achievements during this important stage in his career #SothebysxMGM pic.twitter.com/WPZ4qVYT6K
- Sotheby's (@Sothebys) October 24, 2021
Presented by the painter in his 1970 exhibition at the Palais des Papes in Avignon (South of France), these portraits were made between January 5, 1969 and February 2, 1970.
Other works sold at this auction included ceramics, drawings and still lifes.