An oil painting by Pablo Picasso sold for $ 103.4 million at a Christie’s auction in New York City, breaking its pre-sale estimate of $ 55 million.
The portrait of Picasso’s French lover Marie-Therese, “Woman sitting near a window (Marie-Thérèse)”, or ‘Woman sitting near a window,’ led the ’20th Century Evening Sale’ on Thursday.
Keith Gill, head of the Impressionist and Modern Art department at Christie’s London, said the work may be familiar to art lovers since it appeared in a landmark 1932 Picasso exhibition at Tate Modern in 2018.
“It’s an incredibly iconic image. It has not been seen at auction since 2013. And the appreciation of the portraits of Marie-Thérèse, in particular from 1932, has increased a lot since that time. So it will be an exceptional award for the artist, ”said Gill.
After an intense bidding war, the Picasso was picked up by an online auctioneer in California, Christie’s said.
Thursday’s auction, which was broadcast live from Rockefeller Center, marked the Spanish painter’s fifth work to sell for more than $ 100 million.
Our Standards: Thomson Reuters Trust Principles.