Press Releases

Unedited news and product information from vendors.

1 Picasso for 100 Euros is the Latest Craze from France to Hit US Shores
Jun 14, 2013 (09:06 AM EDT)

NEW YORK, June 14, 2014 /PRNewswire-iReach/ -- Picasso's 1914 cubist drawing "L'homme au Gibus" ("Man with Opera Hat") will be raffled off to raise funds. This may be a rare opportunity for an art aficionado to actually own a Pablo Picasso masterpiece.  The raffle tickets are sold at, for 100 Euros, which is about $135.


"This is a very important drawing because it first stands witness on the cubist work carried out by my grandfather," describes Olivier Picasso, grandson to Pablo Picasso. The Picasso raffle is with the support of the Picasso Estate and Sotheby's.

Many art lovers do not have $800,000 to $1MM, the estimated value of the certified Picasso, to own such a masterpiece, and hence why thousands of tickets have already been sold for such an international first of its kind lottery. Proceeds of the ticket sales will contribute to the International Association to Save Tyre (IAST), a non-profit organization accredited by UNESCO since 1983.  The proceeds from the raffle will be used to finance two projects in the ancient Phoenician port-town of Tyre. The Projects, run by IAST, will be supported by UNESCO, the French Academy, the Euro-Mediterranean University, the Library of Alexandria,...

According to "", the official website of the Picasso Raffle, only 50,000 tickets will be sold and only through the website. "The raffle drawing for the winner of the Picasso will take place in Paris, France at Sotheby's with an official bailiff and will be broadcasted live," reports TF1, France's leading news channel.  

"This is incredible.  I love Picasso's work and probably would hang it up in my living room instead of selling it.  Money goes quick, but art can stay forever," reported one ticket holder, when asked what he would do if he won.

IAST held a press conference yesterday, Wednesday, June 12, in Washington DC. For details about the IAST's fund raising and to learn more about Picasso's painting, visit the official site at:

To view this video on YouTube, please visit:

Media Contact: Virginie Masurel VM, +33684524810,

News distributed by PR Newswire iReach: