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    $1M Picasso Raffled for $135

    Olivier Widmaier Picasso, grandson of artist Pablo Picasso, speaks during an interview next to his grandfather's drawing LHomme au Gibus, or "The Man with Top Hat," right, during an interview in New York, U.S., on Sunday, Dec. 1, 2013. Picasso and the International Association to Save Tyre, established to protect the UNESCO World Heritage site on the southern coast of Lebanon, are raffling off the 1914 cubist drawing to raise about $5 million to fund a new artisanal village and a cultural institute designed to support economic development and preservation and research of the ancient Pheonician city. Photographer: Chris Goodney/Bloomberg via Getty Images


    A $135 raffle ticket doesn't seem as extravagant when a $1 million painting by Pablo Picasso is up for grabs. The famed painter's grandson Olivier is promoting a Sotheby's raffle on Dec. 18 that will sell a signed 1941 work, L’Homme au Gibus. Proceeds will go to a charity hoping to raise $5 million to save the ancient Lebanese city of Tyre. The painting was previously purchased by an anonymous buyer in New York and gifted to the International Association to Save the Tyre. It's believed to be the first time a piece of art of this level has been raffled.

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