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$135 Picasso: $1 million Picasso piece sells super low at online charity raffle

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A $135 Picasso piece of art sounds like a hoax, but that is the actual price that one man paid for a painting that has an estimated value of $1 million during an online charity raffle. The buyer was a U.S. ticket holder that purchased the Picasso masterpiece — sold at the super low price — after being picked as the lucky winner to buy the work. The Business Insider reports this Thursday, Dec. 19, 2013, that the expensive item was sold at only 100 euros as part of a brand new “tombola.”

The $135 Picasso is considered to be an incredibly preserved Cubist artwork that was formerly purchased by an unidentified donor from a New York gallery. As part of this online raffle, the artwork was given to a charity where the proceeds were given on a massive project to help save an ancient city of Tyre, located in Southern Lebanon.

As stated in this head-shaking story’s press release:

“The UNESCO-registered charity issued 50,000 tickets at 100 euros each for the tombola at Sotheby's in Paris, hoping to raise $5 million … The lucky winner in the raffle was 25-year-old Jeffrey Gonano from Pennsylvania, who works for a fire protection company … The charity wants the money to develop a traditional handicraft village giving young people, women and the disabled jobs in Tyre and to set up an institute for Phoenician studies in Beirut.”

It was Pablo’s grandson, Olivier Picasso, who was one of the leading figures trying to promote the online and worldwide charity raffle. He worked to spread the word about the over 40,000 tickets available in the drawing for great charges, one of which was the $135 Picasso.

"Buy a ticket and enjoy a double pleasure," Olivier, whose grandmother Marie-Therese Walter was Picasso's mistress, had told to a national news source. "The first one will be to help a really interesting project and the second one is, hey, maybe to get a Picasso on your wall."

As part of the Picasso publicity drive, the showcase started in Paris, France, then transferred over to London, and finally closed out here in the U.S. in New York. Different languages available on the raffle site made purchases in available for speakers throughout various countries.



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