French Charity Raffle Raises €11m for Alzheimer's Research with Picasso as the Prize

_{Péri Cochin at the auction for the Picasso. (Image: Associated Press)}

A French charity raffle built around a Pablo Picasso painting worth €1m has raised more than €11m for Alzheimer's research, and the man who won the masterpiece initially refused to believe he had.

Ari Hodara, the raffle's grand prize winner, told organisers he suspected a scam when he received the call informing him he had won. It took a live video call from Christie's auction house in Paris, with the Picasso visible on screen, to convince him the news was real.

A Raffle With a €1m Centrepiece

The raffle, organised by Péri Cochin, sold more than 120,000 tickets at €100 each to buyers around the world. The model reflects a growing trend in high-value charity raffles that use premium prizes to attract large numbers of small-stakes participants, and, increasingly, to raise sums that traditional fundraising struggles to match.

The €1m painting covered the cost of the prize, with the remaining proceeds directed entirely to Alzheimer's research.

'You Are Now a Millionaire'

In an era where online lottery scams are commonplace, being told you have won a million-euro painting is, for most people, more likely to trigger suspicion than celebration.

'He asked if this was a scam and I said no, I swear it's true,' Cochin told BBC Radio 4's Front Row.

 'Look at it. You won the Picasso. You are now a millionaire.'

Why the Winner Had Every Reason to Be Suspicious

Online raffle fraud has grown sharply alongside the legitimate market. In the UK alone, Action Fraud recorded thousands of prize and lottery scam reports in 2023, with victims losing an average of several hundred pounds each. The scripts used by fraudsters, an unexpected call, an implausible prize, a request to confirm personal details, closely mirror the experience of a genuine win.

Hodara's reaction was, in that context, entirely rational. It is worth noting that the risk of being scammed is far lower on regulated platforms. Licensed online casinos and bingo sites operating under UK Gambling Commission oversight are legally required to communicate wins clearly, pay out promptly, and verify player identity before any prize is released. A genuine win notification from a regulated operator will always be traceable through your account history, never delivered as a cold call asking you to confirm personal details.

High-value online competitions have also attracted regulatory scrutiny in several countries, with questions raised over transparency, prize fulfilment, and the legal distinction between a raffle and an unlicensed lottery. For a first-time entrant receiving a cold call about a seven-figure artwork, scepticism is the sensible default.

The Winner's Reaction

Hodara, who described himself as having an interest in painting, was understated about the result.

'I'm very happy. It's great news for me,' he said.

What Happens to the Picasso Now

Cochin confirmed that Hodara has several options. He can leave the painting in secure storage at Christie's, sell it through the auction house, or take possession of the work directly. The organiser said they would attempt to arrange complimentary insurance for the painting while he decides.

'He's just thinking about it now,' Cochin said.

A Fundraising Model Gaining Ground Across Europe

The approach, using a single aspirational prize to drive mass participation at a modest per-ticket cost, has gained traction across Europe as charities seek alternatives to traditional donor campaigns and grant funding.

Whether Hodara keeps the Picasso or sells it, the outcome for research into one of the world's most prevalent neurodegenerative conditions is already secured. The bigger question now may be whether the model can be repeated, and at what scale.