Watch as Picasso Painting Sets Record For Art Sold At Auction: $106.5 Million
Christie's New York sold Pablo Picasso's bold 1932 portrait of his lover Marie-Thérèse Walter, "Nude, Green Leaves and Bust," for $106.5 million, making it the most expensive artwork ever sold at auction.
Picasso had originally picked up Marie-Thérèse Walter outside the Paris department store Galeries Lafayette when she was 17. When this painting was made, she was 22 and Picasso 50.
This series of the blond, athletic Walter tend to be bright, enthusiastic works full of foliage and energy.
The painting came from the estate of Frances Brody, the Los Angeles arts patron who died last year at age 93. Her husband Sidney, a real estate developer, died in 1983. The estate consigned this Picasso to Christie's along with some 80 other artworks. The most valuable pieces, including sculptures by Alberto Giacometti, went up for auction Tuesday night; the remainder are slated for Wednesday morning.
Ms Brody's primary heir appears to be the Huntington Library, Art Collections and Botanical Gardens, where she served on the board of overseers for 20 years.
The winning bid came from a telephone bidder whose name is unknown at this point. Bids for the artwork came from all over the world according to Christies.
As many of my regular readers know, I am of the firm belief that the worlds of art and book collecting are linked in market fluctuations. As the new season of auctions continues, it will be a strong indicator for the world of collectible books.
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