Pablo Picasso breaks records

Posted By Chris Newsham / May 14, 2015 / , , / 0 Comments

Malaga-born Pablo Picasso would have hardly believed his eyes if he could have witnessed his ‘Women of Algiers’ become the most expensive painting ever to sell at auction, going for $160 million (€142.1m) at Christie’s in New York.
Eleven minutes of protracted bidding from telephone buyers heralded the final sale, for much more than its pre-sale estimate of $140 million.
However, the final price including commission of just over 12 per cent, saw the anonymous bidder having to pay $179.3 million (€159.25m).
The sale also featured Alberto Giacometti’s life-size sculpture ‘Pointing Man’, which set its own record. It is now the most expensive sculpture sold at auction, after going for $141.3 million (€125.5m).
Previously, the Brits held the world record for a painting sold at auction, with the famous’Three Studies of Lucian Freud’ by Francis Bacon, which sold for $142.2 million (€126,48m) in 2013.
Philip Hoffman, founder and CEO of the Fine Art Fund Group said of Picasso’s work: “This is an absolutely blockbuster picture, it’s one of the most exciting pictures that we’ve seen on the market for 10 years.” Yes there are one or two other ‘Picassos’ that could even smash that record, but it has a huge wall presence, it’s a big show-off picture.”

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