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Picasso Sells at Auction for $106.5 Million, a Record for a Work of Art – ArtsBeat Blog – NYTimes.com

May 6, 2010

May 4, 2010, 7:50 pm — Updated: 8:41 pm –>

Picasso Sells at Auction for $106.5 Million, a Record for a Work of Art

Picasso’s 1932 painting “Nu au Plateau de Sculpteur (Nude, Green Leaves and Bust).Estate of Pablo Picasso/Artists Rights Society, New York, via Christie’s Picasso’s 1932 painting “Nu au Plateau de Sculpteur (Nude, Green Leaves and Bust).”

8:27 p.m. | Updated A painting that Picasso created in a single day in March 1932, “Nu au Plateau de Sculpteur (Nude, Green Leaves and Bust),” sold for $106.5 million, a world record auction price for a work of art, at Christie’s Tuesday night. The painting, more than 5 feet by 4 feet, shows Picasso’s mistress Marie-Thérèse Walter, both reclining and as a bust. Picasso’s profile can be discerned in the blue background.

The painting broke the record price for a work of art set in February when a Giacometti sculpture, “Walking Man I,” was sold for $104.3 million at Sotheby’s in London. Bidding for the Picasso lasted 8 minutes and 6 seconds; there were six bidders. Nicholas Hall, an expert at Christie’s, took the winning bid by telephone. He declined to say who he was bidding for.

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