Charity to raffle off a Picasso for $138

December 13, 2013 9:30:53 AM

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PARIS -- For aspiring art collectors everywhere, there is hope. 

 

Sotheby's Paris is giving away a $1 million masterpiece by Pablo Picasso for just 100 euros ($138) in an unusually affordable charity raffle Wednesday. 

 

The 1914 work "Man in the Opera Hat," which features vivid shapes in opaque gouache paint, dates from the Spanish master's cubist period. 

 

Raffle tickets -- limited to 50,000 -- have been available online since April. 

 

The International Association for the Safeguard of Tyr owns the Picasso, and hopes to raise $6.9 million to protect the ancient Lebanese city of Tyr, a UNESCO heritage site. 

 

The painter's grandson, Olivier Picasso, said in a statement that his grandfather, who died in 1973, would have been "amused to participate in an event like this."