A rare painting by Pablo Picasso valued at more than $1 million has been won for just €100 in a charity raffle supporting Alzheimer’s research.
The 1941 gouache, Tête de Femme, was awarded to Ari Hodara, a Paris-based software salesman, who held the winning ticket among 120,000 entries sold as part of the “1 Picasso for 100 euros” campaign.
Hodara said he initially believed the winning call was a scam before organisers confirmed the result via video during a live-streamed draw. He described the moment as both surprising and emotional, noting that owning a Picasso had always been beyond his means.
The proceeds from the raffle will go to the Alzheimer’s Research Foundation, funding clinical research programmes across Europe.
For now, the artwork will remain secured at Christie's, which hosted the raffle. Hodara has not yet decided whether to display or sell the piece.
A modern approach to charity
This marks the third edition of the initiative. Previous raffles supported heritage preservation in Lebanon and public health efforts during the Covid-19 pandemic.
Olivier Widmaier Picasso, the artist’s grandson, said the concept aimed to democratise access to high-value art while raising funds for humanitarian causes. He added that the painting may be worth significantly more than its estimated value.
A wartime work with lasting value
Painted in Paris during World War II, “Tête de Femme” reflects a period of introspection in Picasso’s work. The piece, measuring roughly 38 by 25 centimetres, features a distorted female figure rendered in muted tones, characteristic of his Cubist style.
Picasso’s works have commanded far higher prices at auction. His painting Les Femmes d'Alger (Version 'O') sold for more than $179 million in 2015, underlining the scale of the prize secured through the raffle.
Widmaier Picasso said the artist himself would likely have supported the initiative, describing him as open to new ideas and approaches. He noted that the winner is free to keep, exhibit or sell the painting, reflecting Picasso’s own philosophy when gifting his work.
Source: CNN