Madonna Sells Painting, Raises $7 Million for Charity

Madonna Sells Painting For Charity

Madonna Raises $7 Million For Charity– Here at Nazmiyal Collection, we sell the very finest antique rugs, antique Persian rugs, and vintage Moroccan rugs anywhere. We are also keen watchers of the art world, and some big news was brewing on Wednesday in New York as international icon Madonna sold an important painting at a Sotheby’s auction for more than $7 million. The best thing about this story? Madonna is donating all the proceeds to her Ray of Light foundation, a charity that supports girls’ education in the developing world.

In a tremendously generous gesture, Madonna made headlines yesterday after selling a painting from her personal collection for more than $7 million – and donating all of the proceeds to charity. The painting, “Trois Femmes a la Table Rouge” or “Three Women at the Red Table,” is a beautiful composition by celebrated French artist Fernand Leger, originally painted in 1921 as part of a series of works depicting women with still-life compositions. Leger’s reputation in the art world has remained larger than life for most of the past one hundred years as art enthusiasts and laypeople have been drawn to his unique abstract style, a form of Cubism that Leger developed personally and often referred to as “Tubism” for its focus on cylindrical shapes.

Trois Femmes a la Table Rouge
Trois Femmes a la Table Rouge

Madonna’s Leger is a particularly attractive and representative piece, and, selling at $7.2 million to an anonymous bidder, beat the pre-auction estimates of $5-7 million by a healthy margin. Indeed, the painting’s impressive performance at auction is a strong indicator of Leger’s sterling reputation: Madonna had purchased the piece herself for $3.4 million at an auction in 1990, suggesting that the piece has more than doubled in value in just over twenty years.

According to Sotheby’s – the curators of the auction – proceeds from the sale of “Trois Femmes a la Table Rouge” will benefit Madonna’s Ray of Light Foundation, which “supports girls’ education projects in the Middle East, South Asia and Africa. Madonna herself was overjoyed with the painting’s impressive performance, saying “I am thrilled that my painting sold above and beyond expectations. I’m eternally grateful to the anonymous collector who bought it – as will every girl who will have a chance to go to school because of their generosity. Thank you, thank you, thank you.”

If you enjoyed this post, you may enjoy other content on the Nazmiyal Blog of Design and Style — like this post about David Thomas Smith’s new exhibition in Dublin; this one about the Bouroullec Brothers’ new show at the Musee des Arts Decoratifs in Paris; or this one that includes an interview with Roger Pratt, a noted collector of antique rugs!

This art blog was published by: Nazmiyal Antique Oriental Rugs