Picasso Painting of Mistress Fetches $106.5M
A 1932 Pablo Picasso painting of his mistress has sold for $106.5 million, a world record price for any work of art at auction.
"Nude, Green Leaves and Bust," which had a pre-sale estimate of between $70 million and $90 million, was sold at Christie's auction house on Tuesday evening to an unidentified telephone bidder.
There were nine minutes of bidding involving eight clients in the sale room and on the phone, Christie's said. At $88 million, two bidders remained. The final bid was $95 million, but the buyer's premium took the sale price to $106.5 million.
Conor Jordan, head of impressionist and modern art for Christie's New York, said he was "ecstatic with the results."
"Tonight's spectacular results showed the great confidence in the marketplace and the enthusiasm with which it welcomes top quality works," he said.
The striking work of Picasso's muse and mistress Marie-Therese Walter has been exhibited in the United States only once, in 1961 in Los Angeles to commemorate the 80th anniversary of Picasso's birth. The painting, which measures more than 5 feet by 4 feet, shows a reclining nude figure with an image of Picasso in the background looking over her.
The painting had belonged to the late California art patron Frances Lasker Brody, who bought it in the 1950s. It had been kept in her family since then.
Part of the sale proceeds will benefit the Huntington Library, Art Collections and Botanical Gardens in San Marino, Calif., where Brody was on the board.
The previous record for a work of art at auction was $104.3 million for "Walking Man I," a sculpture by Alberto Giacometti sold on Feb. 3 at Sotheby's in London. The previous high price for a Picasso work was $104.2 million for "Boy With a Pipe (The Young Apprentice)," attained in 2004 at Sotheby's New York.
On Wednesday, another rarely seen Picasso is slated to sell at Sotheby's auction house. "Woman in a Hat, Bust" is a 1965 work inspired by Jacqueline Roque, the last love of Picasso's life. It is estimated to sell for $8 million to $12 million.
The work hung for 50 years in the Manhattan apartment of Patricia Kennedy Lawford, a sister of former President John F. Kennedy. It's being sold by her estate.
AP "Nude, Green Leaves and Bust," which had a pre-sale estimate of between $70 million and $90 million, was sold at Christie's auction house on Tuesday evening to an unidentified telephone bidder.
There were nine minutes of bidding involving eight clients in the sale room and on the phone, Christie's said. At $88 million, two bidders remained. The final bid was $95 million, but the buyer's premium took the sale price to $106.5 million.
Conor Jordan, head of impressionist and modern art for Christie's New York, said he was "ecstatic with the results."
"Tonight's spectacular results showed the great confidence in the marketplace and the enthusiasm with which it welcomes top quality works," he said.
The striking work of Picasso's muse and mistress Marie-Therese Walter has been exhibited in the United States only once, in 1961 in Los Angeles to commemorate the 80th anniversary of Picasso's birth. The painting, which measures more than 5 feet by 4 feet, shows a reclining nude figure with an image of Picasso in the background looking over her.
The painting had belonged to the late California art patron Frances Lasker Brody, who bought it in the 1950s. It had been kept in her family since then.
Part of the sale proceeds will benefit the Huntington Library, Art Collections and Botanical Gardens in San Marino, Calif., where Brody was on the board.
The previous record for a work of art at auction was $104.3 million for "Walking Man I," a sculpture by Alberto Giacometti sold on Feb. 3 at Sotheby's in London. The previous high price for a Picasso work was $104.2 million for "Boy With a Pipe (The Young Apprentice)," attained in 2004 at Sotheby's New York.
On Wednesday, another rarely seen Picasso is slated to sell at Sotheby's auction house. "Woman in a Hat, Bust" is a 1965 work inspired by Jacqueline Roque, the last love of Picasso's life. It is estimated to sell for $8 million to $12 million.
The work hung for 50 years in the Manhattan apartment of Patricia Kennedy Lawford, a sister of former President John F. Kennedy. It's being sold by her estate.
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8 Comments Add a Comment
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- Amazing what some people consider art. Just because you doodle and scribble, it does not make you an "artist". The most artistic feature of this piece would be if all 4 corners are a true 90 degrees. I flush more artistic pieces down the sanitary drane everyday.
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- It's very frustrating to know there are people rich enough to waste $100 million or more on some arguably crude painting, while thousands of people lose their homes and jobs. Then, I guess no one ever guaranteed that life is fair.
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- Picasso NEVER painted anything of beauty; his art amazes me in its brutality and crudeness! I guess beauty is in the eyes of the beholder! Frankly, I will take art by Monet or Renoir over anything by Picasso!
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- The Rockefellers are still laughing over the artificial market they created for his bad art.
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- My next gig is "Artist." I can paint crap as well as anyone else. All I have to do is start a rumor that I'm dead and it'll be worth more.
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- or paint something controversial, like a picture of the virgin Mary out of elephant poop, oh wait that tricks been done. How about Mohammad out of elephant poop... too dangerous. Well you get the idea: skewer the sacred cow of some vocal but not dangerous group.
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- Seems like a lot of stimulus money being spent on some paint and canvas. IT'S ONLY A PAINTING PEOPLE...
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- Obviously even old sex sells.
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