Bellagio auctions Picasso works

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Peter Brandt 3. November 2021

The MGM Resorts auctioned eleven works of art by Pablo Picasso in Bellagio in Las Vegas. On the premises of the famous casino, paintings, drawings and ceramics of the Spanish artist were sold to the highest bidder as part of an auction. The collection of Picasso works, which were issued in the Bellagio in the past, resulted in a proceeds of $ 109 million (93.5 million $ ).

The Bellagio sold its paintings, drawings and ceramics from Picasso to make room for more diversity in its own art collection. ((©Raychan/Unsplash)

Total proceeds exceeds expectations

The auction in the Bellagio Casino could hardly have been better. Shortly before the 140th birthday of the most famous artist in classical modernism, the eleven works changed their owner. In the run-up to the auction, numerous experts had expected a total proceeds beyond the $ 60 million. However, the crowds of art enthusiasts and collectors as well as the media attention made the forecast updated explosively. With a total proceeds of $ 109 million Expectations of far -reaching.

With the sale of the eleven Picasso works, the Bellagio has from one significant part of his art collection separated, which was compiled by the casinomogul Steve Wynn in the course of the 1990s. The multi -million dollar pictures and sculptures have been part of the hotel casino since the opening of the Bellagios. Over the years, the individual works of art served as exhibits in a theme restaurant that is only dedicated to Picasso.

Sotheby’s Auction Saal. For the auction of the eleven Picasso works, the premises in the Bellagio were redesigned so that they are similar to the famous New York auction room from Sotheby’s one to one. This should create a special atmosphere during the auction.

Highlights of the auction

As Absolute flagship of the auction the famous painting “Femme au Béret Rouge-Orange” (“Woman with a red-organgic beret”). The work from 1938 shows Picasso’s temporary lover Marie-Thérese Walter, with whom a daughter had and the dozens of time was the motive for his pictures. At around $ 40.5 million, the hammer fell for the highlight of the auction.

“Homme et Enfant” (“man and child”) could achieve a not so high price. The painting was painted by Picasso in the summer of 1969, falling into the last years of the artist’s life, which died in 1978. The anonymous bidder who was awarded the contract was that Worth over $ 24.4 million.

Pablo Picasso. There are hardly any works by artists who only have such celebrity and attraction as the work of Pablo Picasso. Thanks to his extensive entire work, which consists of more than 50,000 individual copies, the Spanish artist became the key picture of classic modernism. Much of his works are worth a fortune these days.

Striving for diversity

MGM Resorts decided as the operator of the Bellagios for the sale of the eleven Picasso works to set up the in-house art collection of wide and above all contemporary. The auction should not only create space for new works, but also the Rinse financial resources into the casino boxto strive after Diversity actually implement.

Further auction. Immediately after the Picasso auction, Las Vegas was again a site of a remarkable and million-in auction. The focus was not on art, but the basketball legend Michael Jordan. A few “Nike Air Ship” were auctioned, which the former Chicago Bulls player wore on November 1, 1984 on his fifth NBA mission. At around $ 1.47 million, the hammer fell for the shoes.

The auction of the Picasso works is said to have only been the first step of the new strategy. MGM Resorts According to their own statement, plan the Bellagio collection consisting of over 900 works of art over time and to make it more diverse. The focus is on more work and works by women, representatives from the LGBTQ community and indigenous artists. The MGM resort left the MGM Resorts open until the end which artists come into question and what the implementation will look like.

Diversity. The topic of diversity has been an integral part of society for some time. A change has come into force in many western states, which questions the ancient social structures and wants to establish a modern understanding of values. Diversity affects many areas of public life. In addition to everyday things, the topic has long been anchored in business. Restructures are carried out in numerous companies and industries to live more diversity. The gambling industry does not have any exceptions and follows social development.