Picasso Artwork Valued at £850,000 to Be Raffled for Charity with €100 Tickets

A gouache painting by Pablo Picasso, titled "Tete de Femme" and created in 1941, is set to be awarded through a raffle competition. The artwork, measuring 38 centimeters tall and 25 centimeters wide, depicts a woman's face in grey tones using the artist's Cubist style. " The raffle, named "1 Picasso for 100 euros," offers participants a chance to win the piece for a €100 ticket price.

Christie's auction house in Paris will host the draw on Tuesday, with 120,000 tickets available. The Opera Gallery donated the artwork, officially valued at £850,000, for the event. All funds raised will go to the Alzheimer's Research Foundation, which supports clinical studies on the disease across Europe.

Olivier Widmaier Picasso, Picasso's grandson, proposed the raffle concept as a method of philanthropy. He stated to CNN that the painting's value exceeds $1 million. " — Olivier Widmaier Picasso (CNN) This is the third edition of the "1 Picasso for 100 euros" initiative.

The first occurred in 2013 to raise funds for preserving the ancient city of Tyre in Lebanon. The second took place in 2020, with proceeds directed to clean water and sanitation programs during the COVID-19 pandemic.

created "Tete de Femme" while German forces occupied much of France during World War II.

Widmaier Picasso believes his grandfather would have supported such charitable efforts. He noted that Picasso was interested in innovative approaches and might have engaged with modern technologies like video or artificial intelligence. The winner of the raffle will have no restrictions on the artwork's use.

Options include keeping it for personal display, exhibiting it, or reselling it. In the 2013 raffle, the winner chose to display the prize in a museum.