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Among the 11 works is "Femme au béret rouge-orange," an oil painting of Marie-Thérèse Walter, a young French model with whom the artist had a years-long affair in the late 1920s and 1930s. Picasso's extensive portraits of Walter, who was the mother of his daughter Maya, are marked by vivid colors and a sense of intimacy. It's an encyclopedic collection of Picasso's work, featuring works from 1917 to 1969 -- so virtually the duration of his entire career," said Brooke Lampley, Sotheby's chairman and worldwide head of sales for global fine art, over the phone. "It gives a beautifully comprehensive view of the incredible diversity and richness of his career. Part of MGM Resorts' sizable art collection, the pieces had long been a fixture at Picasso, a Michelin-starred French and Spanish eatery in the Bellagio that is inspired by its namesake's life and work. The collection which includes paintings works on paper, and one ceramic work has a combined top estimate of $104.2 million, according to Sotheby's auction house, which is organizing the sale. MGM declined to provide a timeline for the initiative. "We want to be thoughtful and reflective about how we move forward," a spokesperson said via Sotheby's, which confirmed that the group's collection still contains 12 other Picasso artworks that will replace the auctioned items at the restaurant.

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