Picasso’s 1941 Watercolour Raffle to Fund Alzheimer's Research
A 1941 watercolour by Pablo Picasso titled Tête de femme, valued at over €1 million, is being raffled by the Alzheimer’s Research Foundation to raise funds for Alzheimer’s research. The raffle, called '1 Picasso for 100 Euros', involves the sale of approximately 120,000 tickets at €100 each, aiming to generate roughly €11 million.
The draw will take place at Christie’s Paris on 14 April, with a single winner receiving the painting. Proceeds from the ticket sales will go entirely toward Alzheimer’s research. If the ticket revenue does not cover the cost of the painting, all participants will receive a reimbursement.
The project is described as the world’s first charity raffle of a Picasso work and was conceived by Péri Cochin with the Picasso estate's approval. Olivier Picasso, the artist’s grandson, supports the initiative and considers it a logical extension of his grandfather’s legacy.
The painting was reserved from the Opera gallery, which will receive just under €1 million after the draw. Picasso created the work in his Left Bank studio during the era of Guernica, with the watercolour reflecting the darker tones of the time.
Péri Cochin has previously organized Picasso raffles in 2013 and 2020, which collectively raised over €10 million. Past winners included Jeffrey Gonano, who won a Picasso drawing valued at €860,000, and Claudia Borgogno, who won a 1921 Picasso valued at €1 million and still retains it.
