Apr 19, 2026
For most people, the only way to get close to an original Pablo Picasso painting is in a gallery, as the 20th-century artist's works can sell for over $100 million in public auctions (1).
But one lucky Parisian, Ari Hodara, managed to snag one for 100 euros — or $117 (2). Entitled "Tête de Femme", it's a portrait of Picasso's longtime muse Dora Maar (3), painted in 1941. The artist's grandson Olivier Widmaier Picasso believes it's worth more than $1 million (4).
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"I was very, very surprised, very emotional," Hodara told CNN of his luck. "It's a dream, I never thought I'd own a Picasso. It's not within my means. Normally I'd only see them in a museum."
Hodara won the painting in the 1 Picasso for 100 Euros charity raffle in support of France's Alzheimer Research Foundation, a leading funder of Alzheimer's disease research (5) across Europe. Hodara was among 120,000 art lovers who bought 100-euro raffle tickets for the chance to win a piece of art history.
The event netted 12 million euros, or $14 million. The majority of that will go to the research foundation while 1 million euros will go to the Opera Gallery which contributed the painting for the cause.
Picasso's grandson, Olivier Widmaier Picasso, was proud to have his grandfather's artwork included in the charitable auction. He told The Guardian that his grandfather was a generous soul who helped his friends and family throughout his life.
"This project is an absolutely logical and legitimate part of his legacy," he said. "I hope in the future to be able to do this every year if possible" (6).
How it felt to win
When raffle organizer Péri Cochin called Hodara to tell him he'd won, he thought it was a scam.
"When she called I thought it was fake, it was phishing," Hodara said, asking how he "could be sure it wasn't a hoax."
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He realized the call was legitimate when Cochin switched to video and showed him the audience at the Christie's auction house.
"I was surprised, that's it," Hodara expressed to auctioneers after learning of his new artwork. "When you bet on this, you don't expect to win. But I'm very happy because I'm very interested in painting, and it's great news for me."
A software engineer by trade, Hodara told CNN he was unsure whether he would bring the painting home. For now, it will stay safe in the Christie's vault (7).
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Art as an investment
In fact, many famous artworks spend time in vaults and special storage conditions to help preserve their condition and long-term value. These requirements, along with security, insurance, and worries over forgery, theft, or damage (8), point to art investment not being right for everyone.
Art is certainly a popular way for the ultra-rich to diversify their portfolios. They can afford to invest in works by famous artists like Picasso. His painting "Les femmes d'Alger” (version 'O') sold for over $179 million (9) in 2015. In 2020 alone, sales of Picassos netted $245 million.
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But everyday investors need to recognize that art is not a liquid investment and doesn't generate any income for the owner, Alexandra Levitt Reach, senior lending specialist at JPMorgan Private Bank, told Business Insider (10),
And artists and artworks can be trendy just like fashion — rising in popularity before dropping off again.
Since there's no compounding of interest, dividends or cash with art, or any guarantee you'll get a good return on your investment, you should discuss your art investment strategy with a financial advisor before diving in.
Liz Jacovino, a wealth strategist at RBC Wealth Management–U.S. advises that people who want to invest in art purchase pieces they actually like.
"It may or may not end up being a great investment, but if you really enjoy having it in your collection and hanging it in one of your homes, that can be an immeasurable benefit" (11), she said.
Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
ARTnews (1); CNN (2),(4),(7); CBS News (3); Alzheimer's Research Foundation (5); The Guardian (6); RBC Wealth Management (8),(11); Christie's (9); Business Insider (10)
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Joanna Sinclair is an engagement editor for Moneywise. She holds a B.A. in Professional Writing from York University and has been working in digital media for nearly two decades.
