PARIS (AP) — A charitable organization in France is conducting a unique fundraiser, giving participants the opportunity to own an authentic Pablo Picasso artwork for just 100 euros ($117) per entry, with all money raised benefiting Alzheimer’s disease research.
Christie’s auction house in Paris will host Tuesday’s drawing for the coveted prize.
This marks the third such lottery since the program began. The first “1 Picasso for 100 euros” drawing took place in 2013, when a Pennsylvania fire-sprinkler technician became the lucky winner of “Man in the Opera Hat,” a piece the renowned Spanish artist created in 1914 during his Cubist era.
A second artwork, the oil painting “Nature Morte,” was awarded through raffle in 2020 to Italian accountant Claudia Borgogno, whose son had purchased the winning ticket as her Christmas gift.
That 1921 still life was acquired for the raffle from art collector billionaire David Nahmad, who told the Associated Press in a rare interview that the famous artist would have supported making his works accessible through such means. Picasso passed away in 1973.
“Picasso was very generous. He gave paintings to his driver, his tailor,” Nahmad said. “He wanted his art to be collected by all kinds of people, not only by the super-rich.”
The current prize, a gouache on paper work called “Tête de Femme” (meaning “head of a woman”), was completed by Picasso in 1941.
The Alzheimer Research Foundation, which coordinates this charitable raffle, operates from one of Paris’ premier public medical facilities and claims to have become France’s top private funding source for Alzheimer’s medical studies since establishing operations in 2004.
Christie’s will display the artwork at its Paris location starting Monday, before conducting Tuesday’s 6 p.m. drawing.
According to the organizers’ digital sales system, ticket sales will be limited to 120,000 entries, potentially generating 12 million euros ($14 million) if completely sold out.
Of the total revenue, 1 million euros will go to Opera Gallery, the international art dealer that currently owns the painting.
The foundation reports that the two earlier Picasso raffles generated over 10 million euros combined for cultural initiatives in Lebanon and water and sanitation projects across Africa.
