The auction will take place on Oct 23 at the Bellagio hotel in Las Vegas, where the works were on display, MGM Resorts and Sotheby’s said yesterday.

The sale could fetch some US$100 million (RM424 million) and is thought to be the most valuable auction dedicated to Picasso ever held.

“We are committed to creating an even more inclusive collection that maintains the breadth of our existing portfolio while giving a greater voice to artists from under-represented communities,” said Ari Kastrati, chief hospitality officer at MGM Resorts.

The MGM Resorts Fine Arts Collection boasts about 900 works by 200 artists, including modern pieces by the likes of Bob Dylan and David Hockney, displayed in its hotels around the world.

The works up for auction include five paintings, some of which were displayed for years in the Bellagio’s fine-dining restaurant, Picasso. The restaurant will continue to show an additional 12 Picasso works.

The artist’s 1938 painting “Femme au beret rouge-orange” of his lover and muse Marie-Therese Walter is expected to sell for US$20 million to US$30 million.

The large-scale portraits “Homme et Enfant” and “Buste d’homme” have a presale estimate of up to US$30 million and US$15 million respectively.

Museums and art galleries in the United States are working to diversify their collections and appoint more women and people of colour to their staff.

A 2019 study said out of 18 of the leading museums in the US, 85% of the artists on display are white and 87% are men.

MGM Resorts said its collection was already diverse but it wanted to showcase even more works by women, LGBTQ artists, people of colour, and those with disabilities.