Prado unveils newly acquired Picasso painting

The Prado Museum in Madrid has unveiled a newly acquired painting by Pablo Picasso, Buste de Femme 43, painted in 1943. 

The painting is a donation to American Friends of the Prado Museum from the Aramont Art Collection of the Arango Montull family.

The Prado Museum has also been gifted the Portrait of Philip III by Velazquez by American Friends of the Prado Museum.

“American Friends’ actions are certainly great news for Spain and all those who visit our country attracted by our artistic and cultural heritage.  A painting from one of our greatest artistic geniuses which up to now had been in a United States’ private collection will be displayed in public thanks to the Arango Montull Family’s and American Friends’ generosity, for all of those who love Picasso’s work, our museums and culture,” said Javier Solana, Chairman of the Board.

In addition, during the annual meeting the Board of Trustees approved the financial results for 2020 impacted by the health crisis associated with the world pandemic resulting in an annual loss of 18.5 million euros for the museum.

The Prado’s revenues declined 75.5 per cent from 33.1 million euros to 8.1 million euros due to an 84 per cent decline in ticket sales from our 2019 all-time record of visitors and a 90 per cent decline in Prado Store and restaurant revenues.

Thank you for reading, and don’t forget to check The Euro Weekly News for all your up-to-date local and international news stories.