Loading...
See More

Piece of Picasso's muse goes for $41.5m

Nov 09 2012 07:33 AFP
"Nature morte aux tulipes," a portrait by Pablo Pi

"Nature morte aux tulipes," a portrait by Pablo Picasso of his muse and mistress Marie-Therese Walter. (AFP file)

Related Articles

Monet fetches $44m at New York auction

Art and entrepreneurship

Use culture to create jobs, says minister

Art as investment

 
New York - An erotically charged Picasso oil painting of his mistress alongside tulips and fruit sold on Thursday for $41.5m on an otherwise anaemic night for high-end art in New York.

The painting sold for $26m in 2000, i e a return on investment of $15.5m.

"Nature morte aux tulipes," painted in 1932, was the star of Sotheby's Impressionist and modern art sale in Manhattan. The pre-sale estimate for the work had been between $35m and $50m.

The painting depicts the head of Marie-Therese Walter, who was Picasso's lover and famous muse, poised over a suggestive flower arrangement.

Its sale was one of the few bright spots for Sotheby's, with 30% of lots failing to sell and the total haul of the evening amounting to $163m - below the low end of the overall $169m to $245m estimate. This followed a similar performance at the Christie's auction on Wednesday.

Another of the Marie-Therese series offered by Sotheby's, "Femme a la fenetre (Marie-Therese)," sold for $17.2m, inside the $15m to $20m estimate.

Other successes included the $12.1m paid for "Champ de ble" by Claude Monet, Paul Cezanne's "Femme nue debout" went for $5.3m and Henry Moore's sculpture "Two piece reclining figure No 1" sold for $4.7m.

However, numerous works failed to find buyers, including Picasso's "Plant de tomate," estimated to sell for $10m to $15m, and the same artist's "Femme a la robe verte," which was listed at $6m to $8m. Cezanne's "La femme a l'hermine," which had been hoped to fetch between $5m and $7m, also flopped.

On Wednesday, Christie's in New York sold a Monet water lily painting for $43.8m and saw a painting by Wassily Kandinsky sell for an auction record of $23m. However, the auction overall was seen as relatively muted, with a third of works not selling.

Next week, the rival auction houses hold their contemporary art sales.


NEXT ON FIN24X

Top investment strategies

2014-12-05 14:59

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...