Imagine having the opportunity to own a masterpiece by one of the most renowned artists in history for just €100. Yes, you read that correctly! Pablo Picasso’s artwork, which often sells for astronomical prices—sometimes exceeding $100 million at auctions—is now within reach for art enthusiasts around the globe.
Recently, the Alzheimer’s Research Foundation in France made headlines by announcing an extraordinary raffle featuring Picasso's 1941 portrait, Tête de femme, valued at over €1 million. This initiative not only provides a chance to acquire a priceless piece of art but also aims to raise funds for Alzheimer's research, a critical cause as this disease remains a leading contributor to mortality and disability worldwide.
Dubbed "1 Picasso for 100 Euros," this unique project stands out as the first of its kind globally and is seen as a fitting tribute to Picasso’s legacy by his grandson, Olivier Picasso. He shared insights with the Guardian, highlighting his grandfather's generous yet understated nature, noting, "My grandfather was very generous, but he was also discreet. He offered support to family members, particularly my grandmother Marie-Thérèse Walter, and extended help to friends and those in need during tumultuous times, such as the Spanish Civil War and World War II."
Olivier further expressed enthusiasm about the raffle, stating, "For me, this project is a completely logical and rightful extension of his legacy. I hope we can make this an annual event in the future."
The visionary behind this raffle is Péri Cochin, a French television producer and the founder of the tableware company Waww La Table. Her inspiration struck as she watched her mother conduct fundraising events, leading her to propose a global raffle conducted online. "I thought it would be fantastic to hold a worldwide raffle, and what better art piece to feature than a work by the most iconic artist? Clearly, that’s Picasso," Cochin explained.
With Olivier Picasso’s endorsement—who happens to be a childhood friend of hers—Cochin secured the painting from the Opera gallery, ensuring that nearly €1 million will go to the gallery after the draw.
"We often hear about Picasso selling at high auction prices, but this time, the focus is on charity," Cochin remarked, emphasizing the significance of connecting fine art with philanthropic efforts.
Olivier noted the family’s immediate resonance with the project, especially since the funds raised will contribute to a noble cause. Currently, there is no known cure for Alzheimer’s disease, nor any treatment capable of halting its progression. "As we live longer, the likelihood of being affected by this disease increases, impacting not only ourselves but those around us. I understand how challenging and painful this situation can be," he added thoughtfully.
The ambitious goal is to sell 120,000 tickets, aiming to raise €11 million for Alzheimer’s research, with the raffle set to take place at Christie's auction house in Paris on April 14. Participants can rest assured that if ticket sales fall short of covering the painting's value, they will receive a refund.
Olivier described Tête de femme as a "very intriguing" piece created in the same Left Bank studio where Picasso painted his 1937 masterpiece, Guernica. He elaborated on the context in which this artwork was created: "This was a significant time for my grandfather as he was navigating a complex personal situation, including an impending divorce that never materialized due to Franco's abolishment of divorce laws in 1939, even as he met my grandmother and Dora Maar. The political turmoil of Nazi-occupied Paris influenced the darker palette he used at that time, characterized by browns, blacks, and greys. While it's a stunning representation of a woman, the atmosphere reflects the challenges he faced. My grandfather kept this painting as a reminder of that period."
Cochin has previously organized two raffles featuring Picasso works in 2013 and 2020, collectively raising over €10 million for charitable causes. The first lucky winner was Jeffrey Gonano, a 25-year-old who won a Picasso drawing valued at €860,000. "He displayed the painting in the Pittsburgh Museum for a while, and it’s currently stored at Christie’s in New York, as he preferred not to keep it at home," she recounted.
The second winner, Claudia Borgogno, an accountant from Ventimiglia, Italy, received a Picasso painting valued at €1 million as a Christmas gift from her son—a heartwarming story that still resonates with her today. "She cherishes the painting, saying it has transformed her life. It’s truly a beautiful narrative," Cochin added.
So, what do you think about blending art with philanthropy? Is this innovative approach something you'd support? Join the conversation and share your thoughts below!
