Las Vegas, luxury resort sells 11 Picasso paintings to make collection more inclusive

Eleven paintings by Pablo Picasso sold at auction by Sotheby ’s for $108 million, or nearly 95 million euros: these are from the collection of theMGM Bellagio, a luxury Las Vegas resort (it is one of the city’s most famous hotel-casinos). The proceeds will be used to fund the purchase of works by women and artists who are expressions of minorities to make the resort’s collection more inclusive. The Picasso works had been purchased by the hotel’s previous owner, entrepreneur and collector Steve Wynn, one of the architects of the rise of Las Vegas between the 1980s and 1990s, and founder of a collection that includes important works from the 19th and 20th centuries. A good representation of the Spanish painter’s art will remain at the resort, however: there are twelve other Picasso works that have not been offered for sale and will continue to be on display for clients and art lovers.

The sale, handled by Sotheby’s directly in a room at the Bellagio hotel, saw fine pieces go through, such as the 1938 Femme au Béret Rouge-Orange, a portrait of Marie-Thérèse Walter that alone made a third of the proceeds: 40.5 million the final adjudication (the estimate was 30). And then, among other works, Homme et enfant from 1969, sold for $24.4 million, Nature morte au panier de fruit et aux fleurs at $16.6 (estimate of 15), and also a ceramic, Le Dejeuner sur l’herbe, from 1962, sold for $2.1 million (estimate of 500 thousand). Among the lots was also an early painting, a Pierrot sold for 4.4 million (estimate of 1.1).

“Every year,” explained Ari Kastrati, Chief Hospitality Officer of MGM Resorts, “we welcome millions of visitors from all over the world to our resorts-they give us a tremendous platform to showcase diverse perspectives within the art community. While diversity has long been in MGM Resorts’ DNA, we are committed to creating an even more inclusive collection that keeps the breadth of the current base in place, but gives a broader voice to artists from underrepresented communities.”

“It is a privilege,” said Brooke Lampley, president of Sotheby’s, and Worldwide Head of Sales for Global Fine Art at the London auction house, “to present this exemplary selection of Picasso works from the MGM art collection in a special auction to support MGM Resorts in evolving their collection to represent a broader and more diverse group of artists. MGM Resorts is a world-class entertainment and hospitality brand known for providing the best experiences for its clientele. As one of the most famous, beloved and accomplished artists of all time, we could imagine no one better than Picasso to inaugurate this unique art and culture experience.”

Pictured is a moment from the sale.

Las Vegas, luxury resort sells 11 Picasso paintings to make collection more inclusive

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