$1 million Picasso painting for less than $120 - here's where you can buy it

Art lovers and charity supporters alike have their eyes on Paris, where a rare Pablo Picasso painting is being offered through a remarkable raffle for just 100 euros a ticket. The unique initiative combines the thrill of owning a masterpiece with a powerful cause, as proceeds will go toward Alzheimer’s research. The draw is set to take place later Tuesday at Christie’s auction house in Paris, with one winner walking away with a work valued at around $1 million.

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In a rare blend of art, philanthropy, and excitement, a raffle in Paris is giving people the chance to win a Pablo Picasso painting worth $1 million for less than $120. The lottery, titled “1 Picasso for 100 euros,” is returning for its third edition, with this year’s prize being “Head of a Woman,” a gouache on paper created by Picasso in 1941.
The draw is scheduled to take place at Christie’s auction house in Paris, where one lucky ticket holder will become the new owner of the masterpiece, as per a report by The AP.

Which Picasso painting is being raffled?

This year’s featured work is “Head of a Woman,” a portrait by the Spanish master painted during the early 1940s.
The painting is valued at around $1 million, yet every participant only needs a 100-euro ticket to enter.
The raffle follows two earlier editions that also generated significant public attention, as per a report by The AP.


The first, held in 2013, saw a man from Pennsylvania win “Man in the Opera Hat,” a 1914 work from Picasso’s Cubist period. A second raffle in 2020 awarded the 1921 painting “Still Life” to an accountant in Italy after her son bought her the ticket as a Christmas gift.


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How much could the raffle raise?

Organizers have capped ticket sales at 120,000, meaning the event could generate as much as 12 million euros ($14 million) if all tickets are sold.

Of that amount, 1 million euros will go to Opera Gallery, the international art dealership that owns the painting.
The rest of the funds are intended to support medical research and charitable efforts.

Previous Picasso raffles have already proven highly successful, raising more than 10 million euros combined for projects including cultural work in Lebanon and water and hygiene programs in Africa, as per a report by The AP.

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Where will the funds go?

This time, the focus is on Alzheimer’s research. The raffle is being organized by the Alzheimer Research Foundation, which is based within one of Paris’ leading public hospitals. Founded in 2004, the organization says it has become France’s leading private financier of Alzheimer-related medical research. That makes this raffle not only an extraordinary art opportunity but also a major fundraising initiative for medical science.
For one person, the day will end with a Picasso on their wall. For many others, every ticket purchased helps support the fight against one of the world’s most challenging neurological diseases.

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FAQs

How much does one ticket cost?
Each ticket costs 100 euros, or about $117.

What is the money being used for?
The proceeds will support Alzheimer’s research.