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Picasso work sets world art-auction record
Source: Agencies |
May 5, 2010, Wednesday
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PICASSO'S "Nude, Green Leaves and Bust" soared to more than US$106 million at Christie's yesterday, setting a record for a work of art sold at auction.
The vibrant large-scale depiction of Picasso's mistress and frequent subject, Marie-Therese Walter, was the highlight of a world-class collection assembled by the late Los Angeles art patrons Frances and Sidney Brody.
It had been estimated to sell for more than US$80 million, but many art experts predicted in recent weeks it would ride growing confidence in a recovering art market and break the previous record of US$104.3 million set in February by Giacometti's "Walking Man I" at Sotheby's in London.
More than half a dozen people bid on the 1932 canvas, which the Brodys acquired in the 1950s from Picasso's dealers, with the winning bid taken by a Christie's executive via telephone. The final price of US$106,482,500 included the auction's house's commission.
The vibrant large-scale depiction of Picasso's mistress and frequent subject, Marie-Therese Walter, was the highlight of a world-class collection assembled by the late Los Angeles art patrons Frances and Sidney Brody.
It had been estimated to sell for more than US$80 million, but many art experts predicted in recent weeks it would ride growing confidence in a recovering art market and break the previous record of US$104.3 million set in February by Giacometti's "Walking Man I" at Sotheby's in London.
More than half a dozen people bid on the 1932 canvas, which the Brodys acquired in the 1950s from Picasso's dealers, with the winning bid taken by a Christie's executive via telephone. The final price of US$106,482,500 included the auction's house's commission.
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