Belfast Telegraph

Wednesday 23 April 2014

Picasso Nude, Green Leaves and Bust earns record price tag

A 1932 painting by Pablo Picasso has been auctioned for a world record price

A 1932 Pablo Picasso painting of his mistress sold at a New York City auction for a world record 106.5 million US dollars (£70 million).

Nude, Green Leaves and Bust sold at Christie's to an unidentified telephone bidder.

Its pre-sale estimate was up to 90 million US dollars.

The striking work of Marie-Therese Walter had been exhibited in the United States only once, in 1961 in Los Angeles to commemorate the 80th anniversary of Picasso's birth.

The painting belonged to the late California art patron Frances Lasker Brody, who bought it in the 1950s.

Part of the sale proceeds will benefit the Huntington Library, Art Collections and Botanical Gardens in San Marino, California, where she was on the board.

The previous record for a work of art at auction was 104.3 million US dollars (£69 million) for a sculpture by Alberto Giacometti on February 3.

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