Picasso painting sold for $ 103 million in New York in just 19 minutes

The work, which depicts Picasso’s mistress and muse, Marie-Thérèse Walter, has almost doubled the amount of the initial estimate provided by Christie’s, namely $ 55 million. The sale confirms the vitality of the art market, which has not really suffered from the pandemic even if it has been slowed down by the uncertainty about the health and economic situation, but also the special status of Pablo Picasso (1881-1973).

The general good performance of Thursday’s auctions, which reached $ 481 million in total, “signals a real return to normal,” said Bonnie Brennan, president of Christie’s America, at an online press conference . “The art market is back on track. “

Acquired eight years ago for $ 44.8 million

The “Seated Woman” had been acquired only eight years ago by its current owner, at a sale in London, for 28.6 million pounds, or about 44.8 million dollars, less than half of the price. price offered Thursday. The year 1932, in which it was made, is often considered the best and most prolific in Picasso’s career. Several major exhibitions have been devoted to this one year of the work of the Spanish master.

Five works by Picasso have now crossed the symbolic threshold of $ 100 million. Even before this sale, he was already alone at the head of this very closed club, with four paintings, including “Women of Algiers”, which holds the record for the Spanish artist, at 179.4 million dollars, in May. 2015. “He’s an artist, but he’s also seven artists at the same time”, commented after the sale, Giovanna Bertazzoni, vice-president of the 20th and 21st centuries department, alluding to the different periods of the artist and to the evolution of his style.

Her personal story, her aura, her love stories still resonate with the present times, according to her, even if some of her canvases were painted over 100 years ago. “It’s still incredibly contemporary,” she added. “It speaks to us. “

A Basquiat sold for $ 93.1 million on Tuesday

Only 14 paintings exceeded $ 100 million at auction. Besides Picasso, the Italian artist Amedeo Modigliani is the only one to have more than one on the list, with two copies. This is the first time in two years that a work has crossed this level, since a copy of the “Meules” series by Claude Monet had reached 110.7 million at Sotheby’s, already in New York.

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