NEW YORK, NY – A famous painter’s work of art has sold for an unprecedented record price!
Pablo Picasso’s reputation is tremendous and his work of arts are visual spectacles. Known for co-founding the Cubist movement and for the wide variety of styles embodied in his work, his paintings are coveted treasures. On Tuesday night, one of his paintings was testament to that fact.
“Nude, Green Leaves and Bust” sold for $106.5 million, setting a new world record price for any work of art at auction. The painting depicts his mistress and had a pre-sale estimate of between $70 million and $90 million. It was sold at Christie’s auction house on Tuesday evening to an unidentified telephone bidder.
According to Christie’s, the bidding spanned nine minutes and involved eight clients in the room and on the phone. The final bid came in at $95 million, but the buyer’s premium took the total price to $106.5 million.
“Tonight’s spectacular results showed the great confidence in the marketplace and the enthusiasm with which it welcomes top quality works,” Conor Jordan said, head of impressionist and modern art for Christie’s New York.
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