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Recently in the heart of the famous Las Vegas Strip, Sotheby’s and MGM Resorts International the world-renowned entertainment company held a special white-glove auction live from Bellagio, where 11 masterpieces from Pablo Picassoshowcasing the artist’s entire career and the many media he explored over six decades of creative genius, sold for $109 million, surpassing the high estimate of the sale with 100% of the works sold.

The auction only took place in a crowded ballroom at the Bellagio, where a shiver of energy in the room sparked enthusiastic bidding that spread to almost every lot on offer.

The sale, picasso: Masterpieces from the MGM Resorts Fine Art Collection, was highlighted by:

by Picasso Woman in a Red-Orange Beret, a 1938 portrait of the artist’s famous muse Marie-Therese Walterwhich sold for $40.5 million following a lengthy bidding battle (pictured above)

One of two still lifes on offer, Still Life with Basket of Fruit and Flowers from 1942 far exceeded its lofty estimates of $15 million and sold for $16.6 million. The years between 1940 and 1944, despite the destruction and hardships of World War II, culminated in one of by Picasso the richest periods of still life.

Demonstrating the power and complexity that defines by Picasso late work, Man and Child sold $24.4 million. At nearly two meters tall, the 1959 work is an extremely impressive example of the artist’s achievements at a very important stage in his career.

The Window of the California studio, a work painted on ceramic tiles capturing a scene of by Picasso studio at his Cannes home overlooking the sea, opened the sale with tremendous energy and drama, as more than 20 bids brought the work’s final price to $214,200, almost four times the estimate. low.

Attracting 18 auctions, 1962’s Le Déjeuner sur l’herbe fetched $2.1 million, more than four times its high estimate of $500,000. It is the only ceramic produced of this highly influential and important subject, cast from the original printing plate for the artist’s 1962 series of prints from Déjeuner sur l’herbe, after Manet, I.

All the works of picasso were donated by the MGM Resorts Fine Art Collection and have previously been exhibited at the famed Bellagio picasso Restaurant. The sale comes as MGM Resorts reshapes its public artwork portfolio, with a greater focus on diversity and inclusion.

MGM Resorts Fine Art Collection hits $109 million at sale

The auction also marked the largest and most significant art sale ever held in Las Vegas, as well as the first time that Sotheby’s previously held an evening sale in North America outside of its historic New York auction house, and featured a recreated and customized version of the Bellagio auction house and featured Sotheby’s president and auctioneer Oliver Barker at the podium.

Brooke Lampley, Sotheby’s President and Global Head of Sales for Global Fine Art, said: “When we announced this unique collaboration with MGM Resorts a few months ago, there was immediate buzz about this special auction.

Tonight’s excellent results only underscore the unique nature of this event and the importance of creating bespoke experiences that meet our commitment to existing customers, as well as opening doors to a whole new audience to s engage with Sotheby’s.

With such a gracious partner as MGM Resorts and a featured artist like Picasso, it’s been an amazing experience to bring our evening sales experience on the road – and we look forward to exploring and experimenting with new ways to share the magic of a Sotheby’s evening. Sale.”

“We are grateful to our partners at Sotheby’s for a fruitful collaboration and a wonderful event weekend. From receptions to special programs to the auction itself, we put together a weekend program that could only take place in Las Vegas and only at MGM Resorts properties,” said Ari Kastratihead of reception for MGM Resorts.

The auction was the centerpiece of a weekend of events and programming celebrating art, luxury and culture, which included a series of masterclasses on the art of collecting, the genius of Pablo Picassoan exclusive whiskey tasting and a conversation about the passion for collecting cars with Jay Lenoamong other events.

The lineup continued with a special luxury auction, Icons of Excellence & Haute Luxury, which is dedicated to the finest luxury items spanning watches, jewelry, automobiles, handbags, sneakers, and more, and took place live from ARIA Resort & Casino.

Auction stars Michael Jordan first known Nike Air Ships worn in the regular season. Assigned to Jordan’s Game 5 of his rookie season in 1984, the Air Ships are valued at $1/1.5 million and could become the most valuable sneakers ever sold at auction.

About MGM Resorts Fine Art Collection

When it opened in 1998, Bellagio was the first resort to commit to bringing the fine arts to Las Vegas. With the introduction of the Bellagio Gallery of Fine Arts and restaurants like picassofeaturing the master’s signature paintings and charming ceramic pieces, MGM Resorts introduces the art to the range of amenities customers can experience in Las Vegas for the first time.

Since then, the company has continued to expand its portfolio of artworks. Unveiled in 2009, the ARIA Fine Art Collection was Las Vegas’ first major permanent public art collection and one of the largest and most ambitious corporate art collections in the world. In 2016, MGM Resorts with ARIA Resort & Casino became the title sponsor of At Ugo Rondinone’s Seven Magic Mountains, one of the largest land-based art installations in over 40 years.

Later that same year, MGM National Harbor debuted just south of Washington DC with the largest collection of public art outside of museums in the area. Drawing inspiration from the city’s rich heritage of art and culture, MGM Springfield, which opened in 2018, features a curated collection by local and national artists, ranging from large-scale sculptures to intriguing paintings.

The artwork can also be found at many other company properties, including Big MGM, Delano Las Vegasand The Mirage.

Keywords:
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Sotheby’s

Sotheby’s has been bringing collectors together with world-class works of art since 1744. Sotheby’s became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international art auction house in China (2012). Today, Sotheby’s has a global network of 80 offices in 40 countries and presents auctions in 10 different salerooms, including New York, London, Hong Kong and Paris. Sotheby’s offers collectors the resources of Sotheby’s Financial Services, the world’s only full-service art finance company, as well as the collections, artists, estates and foundations advisory services of its subsidiary, Art Agency, Partners. Sotheby’s also presents private sales opportunities in over 70 categories, including S|2, the gallery arm of Sotheby’s Global Fine Art Division, and three retail outlets: Sotheby’s Wine, Sotheby’s Diamonds and Sotheby’s Home, the online marketplace for interior decoration.