Don't miss




Mashujaa day: Kenyatta and Odinga call for peace before election rerun

Read more


Kurdish referendum a ‘colossal mistake’, says son of late president Talabani

Read more


The new 30s club: NZ's Jacinda Ardern joins list of maverick leaders

Read more


Raqqa, Kirkuk, Xi Jinping

Read more


The Dictator's Games: A rare look inside Turkmenistan

Read more

#TECH 24

Teaching maths with holograms

Read more


Is China exporting its pollution?

Read more

#THE 51%

Are female empowerment adverts actually good for the cause?

Read more


The mixed legacy of 'Abenomics' in Japan

Read more


Picasso's French Riviera mansion set to sell for 20 million euros

© Valery Hache, AFP | This file photo taken on February 05, 2008 in Mougins shows the villa in which the Spanish painter spent the last years of his life.


Latest update : 2017-10-11

Picasso's mansion on the French Riviera – where his last wife tragically shot herself – is expected to be sold for more than 20 million euros ($24 million) at an auction on Thursday.

The artist spent his twilight years on the estate at Mougins in the hills near Cannes, dying there in April 1973, 12 years after moving there with his muse and second wife Jacqueline Roque.

Roque – who Picasso painted more than 400 times, but who feuded with his children after his death – killed herself at the house overlooking the Mediterranean in 1986.

Her daughter Catherine Hutin-Blay sold the estate on to a Dutch owner, who renamed it the "Cavern of the Minotaur" after the painter's obsession with the mythical beast.

Before Picasso the house had belonged to the Anglo-Irish Guinness brewing family. Wartime British prime minister Winston Churchill, a keen amateur artist, was a frequent visitor, painting in the grounds.

The Dutch owner got into financial difficulty after carrying out extensive work on the property, which dates from the 18th century, and its three hectares of grounds.

Maxime Van Rolleghem, a lawyer for the former owner's creditors, Achmea Bank, said the house was "a bargain... A lot of luxury villas on the Cote d'Azur are worth a great deal more than this."

He said the previous owner had wanted 170 million euros for the estate after hugely expanding the house, adding a large pool, garages and a tennis court.

But work had stopped when his money ran out.

Van Rolleghem told AFP that a Sri Lankan financier Rayo Withanage had put an offer of 20.1 million euros on the house in June, but "he hadn't yet got together the funds" to complete the transaction.

He said if the house does not go for more than 20.1 million euros on Thursday – when it will be sold under the eyes of a judge at the courthouse of nearby Grasse, Withanage – the managing partner of the Scepter Partners merchant bank, will get a further two months to pay.

These kind of houses "do not sell like a jar of Nutella", Van Rolleghem added.

During Picasso's time the house was more rundown than it is now, with large bay windows added later to its rustic facade to take in the view.

"From Picasso's period the only original room that is left is his studio, which still has traces of the paint left by the artist," said estate agent Michael Zingraf.

"None of his work remains in the house," he added.


Date created : 2017-10-11


    ‘Spiderman’ burglar in French court over Picasso heist

    Read more


    Paris court sends ‘Spiderman’ thief to prison for €109m museum heist

    Read more


    Verdict upheld for elderly French couple who hid Picasso works in garage

    Read more