SHARES

Eleven paintings by Spanish artist, Pablo Picasso, have sold at auction in Las Vegas for more than $100 million, according to the Guardian newspaper.
 
On Saturday, Sotheby's organized the auction at the Bellagio Hotel in Las Vegas, where the works have been on display for years, two days before the 140th anniversary of his birth on October 25.
 
The nine plates, two ceramic sculptures, were on display inside the Picasso Restaurant in Bellagio, Las Vegas, until the owner of MGM Resorts decided to sell them earlier this year.
 
His painting "The Woman in the Red and Orange Hat", which depicts his lover and muse, Marie Therese Walter, sold for $40.5 million, according to the British newspaper.
 
The two large paintings "Man and Child" and "The Torso of a Man" sold for $24.4 million and $9.5 million, respectively, while smaller works on ceramics, such as "Lunch on Grass" sold for $2.1 million.
 
The names of the buyers were not disclosed.
 
It is noteworthy that Picasso painted more than 13,000 paintings over a period of more than 70 years.