Raffle in France Offers Picasso's 'Head of a Woman' for 100 Euros per Ticket

# Raffle Details The Alzheimer Research Foundation is organizing a raffle that offers entrants a chance to win Pablo Picasso's painting 'Head of a Woman' for a ticket price of 100 euros, which equals $117. The raffle draw takes place later Tuesday at Christie's auction house in Paris. Proceeds from the raffle go to Alzheimer's research.

The painting, titled 'Head of a Woman,' is a gouache on paper created by Picasso in 1941. The number of tickets for Tuesday's draw is capped at 120,000. If all 120,000 tickets are sold, the raffle could net 12 million euros, equivalent to $14 million.

One million euros will be paid to the Opera Gallery, which owns the painting. The raffle is the third iteration of the '1 Picasso for 100 euros' lottery. The Alzheimer Research Foundation supports Alzheimer-related medical research through initiatives like the raffle.

Foundation Background The Alzheimer Research Foundation is based in one of Paris’ leading public hospitals.

The Alzheimer Research Foundation was founded in 2004. Since 2004, the foundation has become France’s leading private financier of Alzheimer-related medical research, according to the Alzheimer Research Foundation.

Previous Raffles In 2013, a Pennsylvania man who worked at a fire-sprinkler business won 'Man in the Opera Hat,' an oil-on-canvas painting by Picasso from 1914 during his Cubist period.

In 2020, Claudia Borgogno, an accountant in Italy, won 'Still Life,' a painting by Picasso from 1921. Her son bought her the winning ticket as a Christmas present. 'Still Life' was purchased for the raffle from billionaire art collector David Nahmad.

David Nahmad argued in an Associated Press interview that Picasso would have approved of raffling his work. Picasso died in 1973. The two previous Picasso raffles raised a total of more than 10 million euros for cultural work in Lebanon and water and hygiene programs in Africa, according to organizers.