A French man has become the fortunate winner of a Pablo Picasso painting valued at €1 million through a charitable raffle held in Paris. The event, designed to raise funds for Alzheimer's research, required participants to purchase tickets for €100 each, with all proceeds directed towards medical studies combating the disease.
Raffle Details and Charitable Mission
The third edition of the "1 Picasso for 100 euros" lottery featured Picasso's "Head of a Woman," a gouache on paper created by the Spanish artist in 1941. The draw took place at Christie's auction house in Paris, where organisers capped ticket sales at 120,000, potentially generating €12 million if fully sold.
Proceeds Allocation and Previous Successes
From the total revenue, €1 million will be paid to the Opera Gallery, the international art dealership that owns the painting. The remaining funds will support the Alzheimer Research Foundation, based at a leading Paris public hospital, which has become France's foremost private financier of Alzheimer-related medical research since its establishment in 2004.
Organisers highlighted that two previous Picasso raffles raised over €10 million collectively, supporting cultural projects in Lebanon and water and hygiene programs across Africa.
Historical Context of Picasso Raffles
The inaugural raffle in 2013 awarded "Man in the Opera Hat," painted by Picasso in 1914 during his Cubist period, to a Pennsylvania man employed at a fire-sprinkler business. In 2020, the oil-on-canvas "Still Life," created in 1921, was won by Claudia Borgogno, an Italian accountant whose son purchased her ticket as a Christmas gift.
Art Collector Perspectives
That 2020 painting was acquired for the raffle from billionaire art collector David Nahmad, who expressed in an Associated Press interview that Picasso would have endorsed raffling his artwork. Picasso passed away in 1973, leaving a legacy that continues to inspire charitable endeavours.
This innovative approach to fundraising demonstrates how high-value art can be leveraged to support critical medical research, offering participants an affordable chance to own a masterpiece while contributing to a noble cause.
