X

Modern Luxury

Join Us
and Receive


· Free subscription to Mensbook's digital edition
· Recommendations to the best Mensbook has to offer
· Special access to VIP events across the city

By signing up you agree to receive occasional emails, invitations to future events, offers and newsletters from Modern Luxury. For more information, see our Privacy Policy and T&Cs.

Congratulations

You're subscribed.

Add Other Modern Luxury Cities

Aspen

Atlanta

Boston

Chicago

California

Dallas

Hamptons

Hawaii

Houston

Las Vegas

Los Angeles

Miami

New York

Orange County

Palm Beach

Philadelphia

Mens

San Diego

San Francisco

Scottsdale

Silicon Valley

South Florida

Texas

Washington D.C.

No thanks

Thank you
for joining us.

You'll recieve a confirmation e-mail shortly.

Close

MGM Resorts Sells 11 Picasso's For Record Highs at Sotheby's

MGM Resorts Sells 11 Picasso's For Record-Breaking Highs at Sotheby's Auction in Vegas

October 26, 2021 by

By: Coop Daley By: Coop Daley

Pablo Picasso's "Le Dejeuner sur l'herbe"

Pablo Picasso's "Le Dejeuner sur l'herbe"

Not interested in slots and card games? There’s still plenty of majesty and awe around the Strip, incuding a recent Sotheby's auction at the Bellagio, courtesy MGM Resorts, that saw 11 pieces by cubist master Pablo Picasso sell for a total of $109 million.

The milestone auction was part of a special white-glove event that exceeded expectations. Every single Picasso left the building with a new owner.

See Also: Michael Jordan's 1984 Nike Air Ship Sneakers Break Record Sale at Sotheby's Auction

“When we announced this unique collaboration with MGM Resorts a few months ago, there was an immediate buzz,” Sotheby’s chairman Brooke Lampley says. “Tonight’s tremendous results only underscore the singular nature of this event, and the importance of creating bespoke experiences that cater to furthering our commitment to existing clients, as well as opening doors for a whole new audience to engage with Sotheby’s. With such a gracious partner like MGM Resorts and a star artist like Picasso, it was an incredible experience to bring our signature Evening Sale 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.”

Pablo Picasso's "Femme au beret rouge orange"

Pablo Picasso's "Femme au beret rouge orange"

This event was notable for Las Vegas in terms of fine art auctions, and it marked Sotheby’s first in-person auction outside of its famous New York showroom, but it was not the only event held between the two groups this weekend. The following day, Sotheby’s “Icons of Excellence and Haute Luxury” auction made its own headlines with the sale of a 1984 pair of basketball sneakers worn by Michael Jordan for more than $1 million.

“We are grateful to our partners at Sotheby’s for a successful collaboration and a tremendous event weekend,” says MGM’s Chief Hospitality Officer Ari Kastrati. “From the receptions to the special programs to the auction itself, together we delivered a weekend program that could only happen in Las Vegas and only at MGM Resorts properties.”

Pablo Picasso's "Homme et enfant"

Pablo Picasso's "Homme et enfant"

While all 11 of the Picasso paintings sold are classics, a few walked away with more buzz. The piece “femme au béret rouge-orange” walked away with the highest price tag. The portrait of Picasso’s longtime muse and lover Marie-Thérèse Walter was fought over in a lengthy bidding battle before selling for for a whopping $40.5 million.

One of Picasso’s famous still lifes, “Nature morte au panier de fruits et aux fleurs,” also earned attention, selling for $16.6 million. The two-meters tall spectacle “homme et enfant” sold for $24.4 million, and a few ceramics painted by the cubist were also sold, all exceeding their estimated ranges.

The paintings came from the private ownership of MGM, who had previously displayed them in their renowned Picasso restaurant at the Bellagio resort. Despite the painting’s high worth and spectacle, MGM decided to sell the works as a commitment to diversifying their public art portfolio, focusing instead on inclusion and new works. It’s unsure what this commitment might entail, but $109 million can certainly buy plenty of different works as the company steps into this new future.

Sotheby’s meanwhile announced a new digital market for NFTs just two weeks ago, as the auction house continues to seek new horizons in the current marketplace. With one of the most successful auctions in the city’s history, it’s almost certain the chairmen do not want what happened in Vegas to stay in Vegas.

See more images of the Picasso pieces below and learn more at Sothebys.com.

Pablo Picasso's "Buste d'homme"

Pablo Picasso's "Buste d'homme"

Pablo Picasso's "La Fenetre de l'atelier La Californie"

Pablo Picasso's "La Fenetre de l'atelier La Californie"













MGM Resorts Sells 11 Picasso's For Record-Breaking Highs at Sotheby's Auction in Vegas

October 26, 2021 by By: Coop Daley

Pablo Picasso's "Le Dejeuner sur l'herbe"

Pablo Picasso's "Le Dejeuner sur l'herbe"

Not interested in slots and card games? There’s still plenty of majesty and awe around the Strip, incuding a recent Sotheby's auction at the Bellagio, courtesy MGM Resorts, that saw 11 pieces by cubist master Pablo Picasso sell for a total of $109 million.

The milestone auction was part of a special white-glove event that exceeded expectations. Every single Picasso left the building with a new owner.

See Also: Michael Jordan's 1984 Nike Air Ship Sneakers Break Record Sale at Sotheby's Auction

“When we announced this unique collaboration with MGM Resorts a few months ago, there was an immediate buzz,” Sotheby’s chairman Brooke Lampley says. “Tonight’s tremendous results only underscore the singular nature of this event, and the importance of creating bespoke experiences that cater to furthering our commitment to existing clients, as well as opening doors for a whole new audience to engage with Sotheby’s. With such a gracious partner like MGM Resorts and a star artist like Picasso, it was an incredible experience to bring our signature Evening Sale 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.”

Pablo Picasso's "Femme au beret rouge orange"

Pablo Picasso's "Femme au beret rouge orange"

This event was notable for Las Vegas in terms of fine art auctions, and it marked Sotheby’s first in-person auction outside of its famous New York showroom, but it was not the only event held between the two groups this weekend. The following day, Sotheby’s “Icons of Excellence and Haute Luxury” auction made its own headlines with the sale of a 1984 pair of basketball sneakers worn by Michael Jordan for more than $1 million.

“We are grateful to our partners at Sotheby’s for a successful collaboration and a tremendous event weekend,” says MGM’s Chief Hospitality Officer Ari Kastrati. “From the receptions to the special programs to the auction itself, together we delivered a weekend program that could only happen in Las Vegas and only at MGM Resorts properties.”

Pablo Picasso's "Homme et enfant"

Pablo Picasso's "Homme et enfant"

While all 11 of the Picasso paintings sold are classics, a few walked away with more buzz. The piece “femme au béret rouge-orange” walked away with the highest price tag. The portrait of Picasso’s longtime muse and lover Marie-Thérèse Walter was fought over in a lengthy bidding battle before selling for for a whopping $40.5 million.

One of Picasso’s famous still lifes, “Nature morte au panier de fruits et aux fleurs,” also earned attention, selling for $16.6 million. The two-meters tall spectacle “homme et enfant” sold for $24.4 million, and a few ceramics painted by the cubist were also sold, all exceeding their estimated ranges.

The paintings came from the private ownership of MGM, who had previously displayed them in their renowned Picasso restaurant at the Bellagio resort. Despite the painting’s high worth and spectacle, MGM decided to sell the works as a commitment to diversifying their public art portfolio, focusing instead on inclusion and new works. It’s unsure what this commitment might entail, but $109 million can certainly buy plenty of different works as the company steps into this new future.

Sotheby’s meanwhile announced a new digital market for NFTs just two weeks ago, as the auction house continues to seek new horizons in the current marketplace. With one of the most successful auctions in the city’s history, it’s almost certain the chairmen do not want what happened in Vegas to stay in Vegas.

See more images of the Picasso pieces below and learn more at Sothebys.com.

Pablo Picasso's "Buste d'homme"

Pablo Picasso's "Buste d'homme"

Pablo Picasso's "La Fenetre de l'atelier La Californie"

Pablo Picasso's "La Fenetre de l'atelier La Californie"