The Biggest Contemporary Art Auction with 50,000 lots through July 10th

Boca Raton, FL, June 20th, 2007:

PicassoMio, known as the most innovative and popular gallery in the world, is offering its clients the opportunity to bid on any of the 50,000 artworks available in its online catalog, www.PicassoMio.com, until July 10th. This offer applies to PicassoMio’s entire collection of modern and contemporary art, including limited edition graphic prints, sculptures, paintings, and photography by more than 5,000 international artists.

This auction will encourage both new art buyers and experienced buyers to buy art through PicassoMio’s website and by telephone.

PicassoMio’s bidding system differs from that of traditional auction houses in that an artwork will be sold to the first client to bid above the reserve price, while in auction houses the artwork is sold to the highest bidder. PicassoMio will provide the list prices of each of its artworks so that the clients are aware of the value of the artwork for which they are bidding. If they prefer, they can also buy at the list price without bidding.
As with all auctions, a percentage will be added to the hammer price. In the PicassoMio auction, this percentage will be 10%, which is less than that of other major auction houses.

“This limited-time auction offers our clients the possibility to acquire pieces by artists like Warhol, Lichtenstein and Picasso, as well as artworks by thousands of emerging artists, at below-market prices. With this initiative, we’re not only offering price advantages, but we’re also promoting our more than 5,000 international artists,” said Allan Majotra, Managing Director, PicassoMio.