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American pays US$140 for Picasso
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A PICASSO drawing valued at US$1 million has been snapped up by a 25-year-old American art lover at a online charity raffle for 100 euros (US$140).
Jeffrey Gonano said he had been looking for a picture to hang on his living room wall when he read a news article about “L’Homme au Gibus” (“Man with Opera Hat”), raffled by Sotheby’s in Paris.
“I was looking for art and I thought I might as well,” the project manager at a fire sprinkler company said.
Despite the enormous value of his new acquisition, Gonano vowed not to sell the artwork, at least for the time being.
His winning ticket 747815 — picked by computer — was one of 50,000 put up for sale online at 100 euros each to raise funds for an association working to preserve the ancient city of Tyre in modern day Lebanon.
Organizers said buyers from France and Germany to Iran and Kyrgyzstan had taken part, with a particularly large number of Americans.
The small drawing dates from 1914, during the artist’s Cubist phase, and was purchased by the Association to Save Tyre from a New York gallery with the help of a large bank loan. Organizers say they paid slightly less than Sotheby’s US$1 million estimate.
Picasso’s grandson Olivier said the artist would have been thrilled that his work was being put to good use.
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