Eleven Pablo Picasso artworks that have been on display at a Las Vegas hotel for more than two decades have sold at auction for nearly $110m (£80m). The works, owned by MGM Resorts, were featured in the Picasso Restaurant at the Bellagio Hotel.
The auction, held by Sotheby's, included nine paintings and two ceramic pieces by the Spanish artist, who died in 1973. The highest price of the evening was $40.5m for the 1938 painting Woman in a Red-Orange Beret, which depicts Picasso's lover and muse Marie-Thérèse Walter. It had been expected to sell for between $20m and $30m.
Another masterpiece, the large-scale portrait Homme et Enfant (Man and Child), sold for $24.4m. Sotheby's described the 1959 work as 'a hugely impressive example of Picasso's achievements during this important stage in his career.' Also included was Nature Morte au Panier de Fruits et aux Fleurs (Still life with fruit basket and flowers), painted during the Nazi occupation of Paris in 1942, which fetched $16.6m.
The collection was started more than 20 years ago by casino mogul Steve Wynn, former owner of the Bellagio. MGM Resorts said the sale would help diversify its fine art collection by adding works by women, minority artists and those from emerging countries. The record for a Picasso remains $179.4m, paid for The Women of Algiers in 2015.
