In an unprecedented fundraising effort, the french charity Alzheimer’s research Foundation is offering a chance to own a piece of art history: a 1941 portrait by Pablo picasso, valued at over €1 million. [[1]] Dubbed “1 Picasso for 100 Euros,” the raffle aims to raise €11 million for critical research into the debilitating disease, which currently affects millions worldwide. [[2]] The initiative, endorsed by the Picasso estate, marks a novel approach to charitable giving within the art world adn provides a rare opportunity for public access to an artist whose work typically commands astronomical prices.
For just €100, you could own a Picasso. The French charity Alzheimer’s Research Foundation is raffling off the artist’s 1941 portrait, Tête de femme, valued at over €1 million, offering art lovers a once-in-a-lifetime opportunity to acquire a piece of art history without a multimillion-dollar price tag. The initiative is generating buzz in the art world and beyond, demonstrating a novel approach to charitable fundraising.
The project, dubbed “1 Picasso for 100 Euros,” is a first-of-its-kind endeavor, and a fitting tribute to the legendary artist’s spirit, according to his grandson, Olivier Picasso. “My grandfather was very generous, but he was also discreet,” Olivier told the Guardian. “He helped his family, especially my grandmother Marie-Thérèse [Walter]. He helped friends. He helped people in need during the civil war in Spain, during the second world war, and even after, in the 50s and 60s.”
“So for me, this project is an absolutely logical and legitimate part of his legacy. I hope in the future to be able to do this every year if possible.”
The raffle was conceived by Péri Cochin, a French television producer and the owner of the tableware company Waww La Table. Cochin was inspired after witnessing her mother utilize raffles at fundraising events. “I thought, wouldn’t it be great to do a worldwide raffle, by selling tickets online? I decided it should be a piece of art, and what is the most famous name in art? Obviously, it’s Picasso,” she explained.
Cochin reached out to Olivier Picasso, a childhood friend, and secured approval from the Picasso administration and estate. The 1941 painting was then reserved from the Opera gallery, which will receive nearly €1 million following the drawing. “We are used to hearing about Picasso and these high-priced auctions, but this was the first time where Picasso was really related to a charity,” Cochin noted.
The Picasso family quickly embraced the initiative, particularly given the cause it supports. Alzheimer’s disease currently has no cure, nor any treatment to halt or reverse its progression. “Now that we are living older than before, we or people around us could be affected by this disease. And I know how difficult and painful it is,” Olivier added.
Organizers aim to sell 120,000 tickets, generating €11 million for Alzheimer’s research. The drawing is scheduled to take place at Christie’s auction house in Paris on April 14. Participants will be fully reimbursed if enough tickets aren’t sold to cover the painting’s cost.
Olivier Picasso described Tête de femme as a “very interesting” work created in the same Parisian studio where his grandfather painted his iconic 1937 masterpiece, Guernica. “The period was important for my grandfather, because he was at the end of a process to divorce his first wife, Olga Khokhlova – a divorce that never happened because Franco abolished the divorce law [in 1939], despite meeting my grandmother and Dora Maar.”
“The period was also very complicated because of the occupation of Paris by the Nazis. And so the colours are darker than usual, with brown, black, and grey. While it’s a beautiful depiction of a woman, there is still the ambience of Picasso. My grandfather kept the painting as a souvenir of the moment.”
Cochin has previously organized two successful raffles for Picasso paintings, in 2013 and 2020, raising over €10 million in total. The 2013 winner, 25-year-old Jeffrey Gonano, acquired a Picasso drawing valued at €860,000. “He put the painting in the Museum of Pittsburg for a while, and now it’s in storage at Christie’s in New York, because he didn’t want to keep it at home,” Cochin said.
The 2020 winner, Claudia Borgogno, an accountant from Ventimiglia, Italy, received a 1921 Picasso valued at €1 million as a Christmas gift from her son. “She still has the painting, she said it would change her life. It’s a really beautiful story,” Cochin added.
