Picasso painting will be raffled off in Paris in April
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Why plan an elaborate heist when you can acquire a masterpiece in a much simpler way? An upcoming charity auction offers a unique opportunity to win a Pablo Picasso painting worth an estimated $1.1 million, with raffle tickets priced at just $117.

The event aims to sell about 120,000 tickets globally. Those interested can purchase tickets through the Fondation Recherche Alzheimer, the French research organization orchestrating the raffle on April 14 at Christie’s in Paris. Participants will also have the option to join the event online.

Security measures will be in place to ensure a smooth and fair drawing.

The coveted artwork in question is Picasso’s “Tête de Femme,” a gouache-on-paper portrait created in 1941. This piece holds historical significance, as it was painted during a tumultuous period in Picasso’s relationship with his first wife, as noted by Artsy.

The artwork to be raffled is Picasso’s 1941 “Tête de Femme,” a gouache-on-paper portrait painted during a difficult time between the artist and his first wife, according to Artsy.

Peri Cochin, a friend of Olivier Picasso, Picasso’s grandson, helped the foundation secure the portrait from the Opera Gallery for $1.1 million, according to the New York Times.

The foundation plans to pay for the art using the ticket revenue and says it will still make more than $12 million afterward.

If not enough tickets are sold to cover the cost, the auction will be called off, and all ticket-holders will be reimbursed, the foundation said.

“Associating the name of Pablo Picasso to charity, a charitable purpose, is very important because my grandfather was very generous with the people around him,” Oliver Picasso told the Times.

He said he believes the portrait was painted in the same Paris studio that his grandfather worked on one of his most famous paintings, “Guernica.”

Cochin has helped organize two other Picasso raffles, one in 2013 and the other 2020. Last time, an accountant from Italy was gifted the winning ticket by her son for Christmas.

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