New York, United States: The auction house reported, Pablo Picasso’s “Woman sitting by a window (Marie-Therese)” sold Thursday for $103.4 million at Christie’s in New York.
Christie’s said, the painting which was completed in 1932, was sold for $90 million, which rose to $103.4 million when fees and commissions were added, after 19 minutes of bidding.
In spite of the Covid-19 pandemic, the sale validates the spirit of the art market, but also the special status of Picasso, who was born in 1881 and died in 1973.
Eight years ago the same painting was received only 28.6 million pounds or about $44.8 million at a London sale which was less than half the price offered Thursday.
About five works by the Spanish painter have now crossed the symbolic threshold of $100 million.
Still, before this sale, he was already alone at the top of this very expensive club with four paintings, including “Women of Algiers,” which holds the record for a Picasso, at $179.4 million in 2015.
It is the first time in two years that a work has breached the $100 million mark, since a copy of Claude Monet’s “Meules” series reached $110.7 million at Sotheby’s, also in New York.
On Tuesday, the painting “In This Case” by the American painter Jean-Michel Basquiat sold for $93.1 million at Christie’s in the first of the major spring sales, one of the two most important events in the auction world.
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