Lloyd Webber to Donate Proceeds of $60.9 Million Picasso to Charity

Andrew Lloyd Webber has announced he will donate the proceeds of the auctioning of his $60.9 million Pablo Picasso painting to charity. Lloyd Webber is auctioning off the piece titled "Blue Period," depicting an absinthe drinker at the auction, which will take place in London in June.

The auction is the highest work of art to be sold at auction according to Christie's International. The Blue Period of Picasso is the period between 1901 and 1904, when he painted essentially monochromatic paintings in shades of blue and blue-green, only occasionally warmed by other colors. These somber works, inspired by Spain but painted in Paris, are now some of his most popular works, although he had difficulty selling them at the time.

The auction price will be donated to Lloyd Webber's charity to promote arts and culture throughout the UK.

To read the full article from Bloomberg News, click here.

Andrew Lloyd Webber is the composer of The Likes of Us, Joseph and The Amazing Technicolor Dreamcoat, Jesus Christ Superstar, By Jeeves, Evita, Variations and Tell Me on a Sunday combined as Song & Dance, Cats, Starlight Express, The Phantom of The Opera, Aspects of Love, Sunset Boulevard, Whistle Down The Wind, The Beautiful Game and The Woman in White. He composed The film scores of Gumshoe and The Odessa File, and Requiem, a setting of The Latin Requiem Mass, for which he won a Grammy for Best Contemporary Composition. He has also produced in The West End and on Broadway, not only his own work, but The Olivier Award-winning plays La Bête and Daisy Pulls It Off.

In 2004 he produced The film version of The Phantom of The Opera. In 2006 he oversaw a new London production of Evita, Phantom - The Las Vegas Spectacular and pioneered television casting for musical Theater with The hit BBC series "How Do You Solve A Problem Like Maria?" which won an International Emmy. He followed this with The equally successful series "Any Dream Will Do." His awards include seven Tonys®, three Grammys, six Oliviers, a Golden Globe, an Oscar, an International Emmy, The Praemium Imperiale and The Richard Rodgers Award for Excellence in Musical Theatre. He was knighted in 1992 and created an honorary life peer in 1997. He's a 2006 Kennedy Center Honoree.

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