MGM Resorts is auctioning 11 Picassos worth as much as $104 million

On October 23, MGM Resorts will sell 11 Picassos that could bring in $104 million. The sale, which will take place live at the Bellagio and be conducted by Sotheby’s, will include paintings, works on paper, and ceramics.

“Our collection has evolved over time,” says Ari Kastrati, MGM Resorts’ chief hospitality officer. “Our goal with our collection has always been to evolve it further, and focus on diversity, and give voice to underrepresented artists. We’ve done a great job with that over the years, and we believe now is a time to double down on it.”

The top lot is expected to be Picasso’s 1938 painting Femme au Beret Rouge-Orange, which depicts the artist’s lover and muse, Marie-Thérèse Walter, and carries an estimate of $20 million to $30 million.