A billionaire art collector owns 300 Picassos. He's about to raffle one off.
Nahmad, one of the art world’s most influential dealers, will receive 1 million euros for “Nature Morte” but says it is worth “at least two, three times” that.
But Nahmad says the prospect of parting with “Nature Morte” has made him more appreciative of the small still life, which is signed “Picasso” and shows a newspaper and a glass of absinthe on a wood table., with his Russian first wife Olga Khokhlova and was months shy of his 40th birthday when he completed the painting in June 1921.
They decided to pay Nahmad for the painting, rather than push for a free donation, because they hope to encourage other collectors or galleries to also part with Picasso works for future charity raffles.
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