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Charity to raffle a Picasso for 100 euros ($138)

Sunday - 12/15/2013, 3:56pm  ET

Picasso's 1914 cubist drawing L'homme au Gibus, Man with Opera Hat, is presented at Sotheby's auction house in Paris Thursday Dec. 12, 2013. An online Christmas raffle has been launched by the artist’s grandson to allow fans to bid 100 euros to win the original Picasso. A total of 50,000 tickets are for sale for the chance to win the gouache painting. (AP Photo/Remy de la Mauviniere)

PARIS (AP) -- 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 5 million euros ($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."

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Online:

www.1picasso100euros.com


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