News ID: 303112
Published: 0321 GMT May 16, 2021

Picasso painting sells for $103m in New York: Auction house

Picasso painting sells for $103m in New York: Auction house

Pablo Picasso's ‘Woman sitting by a window (Marie-Therese)’ sold for $103.4 million at Christie's in New York, the auction house said.

The painting, 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, Christie's said, according to AFP.

The sale confirms the vitality of the art market despite the COVID-19 pandemic – but also the special status of Picasso, who was born in 1881 and died in 1973.

The same painting was acquired only eight years ago at a London sale for 28.6 million pounds, or about $44.8 million, less than half the price offered in Christie's.

Five works by the Spanish painter have now crossed the symbolic threshold of $100 million.

Even before this sale on Friday, he was already alone at the top of this very exclusive club with four paintings at $179.4 million in 2015.

This is the first time in two years that a work has broken the $100 million mark, since a copy of Claude Monet's ‘Meules’ series reached $110.7 million at Sotheby's, also in New York.

In addition, 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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