PARIS - Most collectors would relish the opportunity to acquire a Picasso for €100, particularly when it’s estimated to be worth a million. Now they have that opportunity.

Organised by the International Association to Save Tyre, 1 Picasso for 100 Euros – a lottery like no other – offers the prize of L’Homme au Gibus (Man with Opera Hat).

Since it was founded in 1980, the International Association to Save Tyre (AIST) has been dedicated to saving this ancient Phoenician metropolis, listed as a UNESCO World Heritage Site.

Peri Cochin, who organised 1 Picasso for 100 Euros, has been a long supporter of AIST. “I have always been involved with this association because my mother is Lebanese. We were used to raising funds through gala dinners, but we have tried to find an alternative through the development of this innovative adventure, an international lottery with a charity purpose.”

Pablo Picasso's L’Homme au Gibus (Man with Opera Hat) will be raffled off at Sotheby's Paris on 18 December. ©Succession Picasso 2013.

The draw will take place on 18 December 2013 at Sotheby’s in Paris. Each participant can purchase one or several tickets with a nominal value of €100. Cochin’s aim is to sell 50,000 tickets, with all the money going directly to establishing employment opportunities for the women, the disabled and younger generations of Tyre.

Pablo Picasso’s children Marie-Thérèse Picasso and Claude Ruiz-Picasso both attest to the painting’s authenticity, while the artist’s grandson Olivier Picasso said: “Everything innovative would interest him. I think that Pablo Picasso was a pioneer, a pioneer in his personal life, in his sentimental life, in his creation. I think he would have been amused to be involved in such a popular operation.”

Personally, I love the idea that a Picasso Cubist drawing is being used to protect a 5,000-year-old city, and to establish projects to reinvigorate the community. The art of Modernism being used to save the art of the ancient world – and for only €100.