Picasso's $1.17 Million Painting Raffled for $116 to Fund Alzheimer's Research

A gouache by Pablo Picasso, appraised at €1 million ($1.17 million), is being raffled for only €100 ($116) per ticket, with the draw set for April 14, 2026. The piece, titled Tête de Femme (Head of a Woman), was created in Paris during World War II amid Picasso's personal turmoil, showcasing a monochrome Cubist style in the same studio where Guernica was produced. Organizer Péri Cochin hopes to sell all 120,000 tickets, potentially raising around €11 million ($12.91 million) for the Alzheimer's Research Foundation after expenses. The artwork was donated by Opera Gallery, with Olivier Widmaier Picasso, the artist's grandson, emphasizing that linking Picasso's legacy to charity reflects his grandfather's spirit of generosity. This is the third iteration of the 1 Picasso for 100 Euros initiative, following successful raffles in 2013 and 2020 that generated over €5 million each for UNESCO projects. Past winners include Jeffrey Gonano and Claudia Borgogno, with the winner to be revealed live at 6 p.m. CET on the organization's website.