Picasso’s $1 Million Artwork to Be Auctioned for Only $116
In a unique fundraising initiative, a Picasso valued at over $1 million will be auctioned for just €100, approximately $116. The raffle, titled “1 Picasso for 100 euros,” offers participants the chance to win Picasso’s gouache painting, “Tête de Femme,” created in 1941.
Details of the Auction
The event will take place on April 14, with a total of 120,000 tickets available. Proceeds from the raffle will support the Alzheimer’s Research Foundation, advancing clinical research efforts across Europe.
History of the Initiative
- This is the third installment of the “1 Picasso for 100 euros” campaign.
- The first raffle was conducted in 2013, aiding the preservation of the historic city of Tyre in Southern Lebanon.
- The second edition in 2020 focused on clean water and hygiene programs during the COVID-19 pandemic.
Olivier Widmaier Picasso, the grandson of Pablo Picasso, highlighted the significance of “Tête de Femme.” He mentioned that the piece was created in the same studio where Picasso painted his famous work “Guernica.” Widmaier Picasso believes the artwork’s true value exceeds one million dollars.
The Auction Painting
“Tête de Femme” measures approximately 15 inches in height and 10 inches in width. The painting is noted for its Cubist style, featuring a woman’s expression in various shades of gray, purposefully distorted by Picasso.
| Title | Value | Date Created | Dimensions |
|---|---|---|---|
| Tête de Femme | $1 Million+ | 1941 | 15″ x 10″ |
Philosophy Behind the Raffle
Widmaier Picasso shared that the initiative was inspired by a friend who envisioned a modern take on charity. He believes his grandfather would support this creative fundraising method. Widmaier Picasso concluded that the winner of the painting could choose the fate of the artwork, whether to display it, keep it, or resell it.
This opportunity not only allows art enthusiasts to potentially own a piece by a legendary artist but also contributes to important humanitarian efforts. The painting reflects not merely artistry, but the importance of collective action in addressing significant issues.
