FunCultural"The art market has started again": Picasso's painting sells...

"The art market has started again": Picasso's painting sells for 103 million dollars

Pablo Picasso’s “Woman Seated by a Window (Marie-Therese)” sold on Thursday for $ 103.4 million at Christie’s New York auction house, according to the company.

The 1.46 by 1.14 m painting, completed in 1932, sold for $ 90 million, which rose to $ 103.4 million when fees and commissions were added, after 19 minutes of bidding, Christie’s said. .

The work, depicting Picasso’s lover and muse, Marie-Thérèse Walter, nearly doubled the initial estimate provided by Christie’s of $ 55 million.

The sale confirms the vitality of the art market, which has not really suffered the effects of the pandemic, but also the special status of Pablo Picasso (1881-1973).

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The overall good result of Thursday’s auction, which amounted to $ 481 million, “signals a real return to normalcy,” said Bonnie Brennan, president of Christie’s America, at an online press conference. “The art market has started up again.”

The same painting was purchased just eight years ago by its current owner at a London auction for 28.6 million pounds, or about $ 44.8 million, less than half the price offered on Thursday.

Five works by the Spanish painter have already crossed the symbolic threshold of 100 million dollars.

“It is a single artist, but there are also seven artists at the same time,” said Giovanna Bertazzoni, vice president of the 20th and 21st century department, after the sale, alluding to the artist’s different periods and the evolution of his style.

Even before this sale, the artist was already at the helm of this exclusive club, with four paintings, including “Les femmes d’Alger”, which holds the record for a Picasso, $ 179.4 million, in May 2015.

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It is the first time in two years that a work exceeds 100 million dollars, since a copy of the series “Meules” by Claude Monet reached 110.7 million at Sotheby’s in New York.

On Tuesday, the canvas “In This Case” by American painter Jean-Michel Basquiat sold for $ 93.1 million at Christie’s during the first of the big sales of the boreal spring, one of the two most important meetings in the world. .

The year 1932 is often regarded as Picasso’s most prolific. Several important exhibitions have been devoted to the Spanish artist’s production of that year.

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