Picasso painting to be raffled off - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Picasso painting to be raffled off

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NEW YORK (MYFOXNY) - Olivier Picasso, the grandson of Pablo Picasso, says a painting by his legendary grandfather will be raffled for 100 Euros (or $135 US) per ticket later this month.

"L'HommeAu Gibus" (Man with Opera Hat) is estimated to be worth $1 million.  The picture measures about 12 inches by 9 inches.

The raffle is being held by Sotheby's on Dec. 18 in Paris and will be broadcast live on the Internet.

The raffle is being offered by The International Association to Save Tyre.

All of the money raised will be donated to preserve Tyre, Lebanon, a UNESCO World Heritage City.    The funds will help protect the ancient ruins and artifacts of the Phoenician port town.

For more details or to buy a raffle ticket, visit 1Picasso100Euros.com

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