Eleven works of Pablo Picasso belonging to the American hotel group “MGM Resorts”, including a portrait of his muse, Marie-Therese Walter, were sold for a total sum of 108.87 million dollars during an auction organized by “Sotheby’s” at the famous Bellago Hotel in Las Vegas.
The main piece in the auction, which took place two days before the birthday of the Spanish painter’s 140th birthday, was “The Woman in the Hat in Red-orange,” one of the artist’s last portraits of his muse and lover Marie-Therese Walter in the 1930s.
The painting, whose price was estimated at between 20 and 30 million dollars, was sold for 40.47 million dollars. Picasso had completed a drawing of the mother of his daughter, Maya, in January 1938, at a time when he was in a relationship with photographer Dora Maar and “in a period full of inspiration and production to the extreme,” according to “Sotheby’s.”
Also sold at this auction were two other portraits by Picasso in his late life, “The Man and the Child” (for 24.39 million dollars) and “a bust of a man” (for 9.45 million, which is less than the initial estimate of 10 million).
The painter made these two portraits between January 5, 1969 and February 1970. They had been shown in an exhibition held in 1970 at the Palais des Papes in Avignon (southern France).
Other works offered in this auction include drawings, still lifes, and ceramics.