Pablo Picasso’s paintings typically sell for millions. But one sold for just $116 on April 14. The sale was part of a campaign called 1 Picasso for 100 Euros. It was organized by French TV producer Péri Cochin and the Picasso estate.
Cochin’s team offered 120,000 raffle tickets for sale online. Each ticket cost €100, which is about $116. The painting was then raffled off to a random ticket holder. Most of the proceeds went to an Alzheimer’s research foundation.
The painting is called Tête de femme, or Head of a Woman. Picasso painted it at his studio in Paris, France, in 1941. “It’s worth much more than $1 million,” Olivier Widmaier Picasso, the artist’s grandson, told CNN before the winner was chosen. “So it will be really a big prize.”
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