MGM Resorts Fine Art Collection Sells $ 109 Million On Sale

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Recently in the heart of the famous Las Vegas Strip, Sotheby’s and MGM Resorts International the world-famous entertainment company hosted a special live white glove auction from Bellagio, where 11 masterpieces from Pablo Picasso, showcasing the artist’s entire career and the many media he has explored through more than six decades of creative genius, sold for $ 109 million, exceeding the high estimate of the sale with 100% of works sold.

The auction was only held in a crowded Bellagio Ballroom, where a thrill of energy in the hall sparked enthusiastic auctions that spilled over to nearly every lot on offer.

The sale, Picasso: Masterpieces from the MGM Resorts Fine Art Collection, highlighted by:

that of Picasso Woman with a red-orange beret, a 1938 portrait of the artist’s famous muse Marie-Therese Walter, which sold for $ 40.5 million following an extended auction battle (pictured above)

One of two still lifes on offer, 1942 Still Life with Fruit Basket and Flowers, far exceeded its high estimate of $ 15 million and sold for $ 16.6 million. The years 1940-44, despite the destruction and hardship of World War II, resulted in one of the that of Picasso richest periods in still life.

Showcase the power and complexity that define that of Picasso late work, Man and Child sold for $ 24.4 million. Standing almost two meters tall, the 1959 work is an extremely impressive example of the artist’s achievements at a very important stage in his career.

The Window of the studio La Californie, a work painted on ceramic tile capturing a scene from that of Picasso studio at his home in Cannes overlooking the sea, opened the sale with tremendous energy and drama, as more than 20 bids brought the final price of the work to $ 214,200, nearly four times the low estimate .

Attracting 18 auctions, the 1962 Luncheon on the Grass fetched $ 2.1 million, more than four times its high estimate of $ 500,000. It is the only ceramic produced of this very influential and important subject, molded from the original printing plate for the artist’s 1962 series of prints of Déjeuner surherbe, after Manet, I.

The group of works by Picasso were donated from the MGM Resorts art collection and were previously on display at the famous Bellagio Picasso restaurant. The sale comes as MGM Resorts is reshaping its portfolio of public artwork, deepening its focus on diversity and inclusion.

MGM Resorts Fine Art Collection Sells $ 109 Million On Sale

The auction also marked the largest and most important art sale ever to be held in Las Vegas, as well as the first time that Sotheby’s has previously hosted an evening sale in North America outside of its historic New York auction house, and presented a custom recreated version of the auction hall to Bellagio and showcased Sotheby’s president and auctioneer Olivier Barker at the podium.

Brooke Lampley, Sotheby’s President and Global Sales Director for Global Fine Art, said, “When we announced this unique collaboration with MGM Resorts a few months ago, there was an immediate buzz surrounding this special auction.

Tonight’s tremendous results only underscore the unique nature of this event and the importance of creating bespoke experiences that strengthen our commitment to existing customers, as well as open the doors to a whole new audience for engage with Sotheby’s.

With such a gracious partner as MGM Resorts and a featured artist like Picasso, it was an amazing experience bringing our signature evening selling experience on the go – and we look forward to exploring and experimenting with new ways to share. the magic of a Sotheby’s Sale evening. “

“We are grateful to our partners at Sotheby’s for a fruitful collaboration and a great event weekend. From entertaining and special programs to the auction itself, we put together a weekend program that could only take place in Las Vegas and only at MGM Resorts properties, ”said Ari kastrati, director of reception for MGM Resorts.

The auction was the centerpiece of a weekend of events and programming celebrating art, luxury and culture, which included a series of masterclasses on the art of collecting, the genius of Pablo Picasso, an exclusive whiskey tasting and a conversation about the passion for the automotive collection with Jay leno, among other events.

The program continued with a special luxury auction, Icons of Excellence & Haute Luxury, dedicated to the finest luxury items ranging from watches, jewelry, automobiles, handbags, sneakers, etc. unfolded live from ARIA Resort & Casino.

The auction stars Michael Jordan’s the oldest known regular season Nike Air Ships. Assigned to Jordan Game 5 of his rookie season in 1984, the Air Ships are valued at $ 1 / 1.5 million and could become the most valuable sneakers ever to be auctioned.

About the MGM Resorts art collection

When it opened in 1998, Bellagio was the first resort to commit to bringing the fine art to Las Vegas. With the introduction of the Bellagio Fine Arts Gallery and restaurants like Picasso, featuring the master’s iconic paintings and charming ceramic pieces, MGM Resorts first introduced art into the range of amenities that customers can experience in Las Vegas.

Since then, the company has continued to develop its art portfolio. Unveiled in 2009, the ARIA Fine Art Collection was the first major permanent collection of public art in Las Vegas and one of the largest and most ambitious corporate art collections in the world. In 2016, MGM Resorts in the same way ARIA Resort & Casino became the title sponsor of Ugo Rondinone Seven Magic Mountains, one of the largest art installations on land for over 40 years.

Later that same year, MGM National Harbor debuted just south of Washington DC with the largest collection of public art outside of area museums. Drawing on the city’s rich heritage of art and culture, MGM Springfield, which opened in 2018, features a collection curated by local and national artists, from large-scale sculptures to intriguing paintings.

The artwork can also be found in many of the company’s other properties, including MGM Grand, Delano Las Vegas, and The Mirage.

Key words:
Ari Kastrati, ARIA Resort & Casino, ART, AUCTION, Bellagio, Brooke Lampley, Cannes, Collection, Delano Las Vegas, Handbag, Jay Leno, Bijoux, Las Vegas, Marie-Thérèse Walter, MGM Grand, MGM Resorts International, Michael Jordan, NEW YORK, Nike Air Ships, Oliver Barker, Pablo Picasso, Sale, Sneakers, SOTHEBY’S, Le Mirage, Ugo Rondinone, United States, Washington DC, Watch
Sothebys

Sotheby’s has been bringing collectors together with world-class works of art since 1744. Sotheby’s became the first international auction house when it expanded from London to New York (1955), the first to sell at Hong Kong (1973), India (1992) and France (2001), and the first international art auction house in China (2012). Today, Sotheby’s has a global network of 80 offices in 40 countries and has auctions in 10 different auction rooms, including New York, London, Hong Kong and Paris. Sotheby’s offers collectors the resources of Sotheby’s Financial Services, the world’s only full-service art finance company, as well as collection, artist, estate and foundation advisory services from its subsidiary, Art Agency, Partners . Sotheby’s also presents private sales opportunities in more than 70 categories, including S | 2, the gallery arm of Sotheby’s Global Fine Art Division, and three retail businesses: Sotheby’s Wine, Sotheby’s Diamonds and Sotheby’s Home, the online marketplace. for interior decoration.






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