Picasso's 'golden muse' auctions for $44.7m at Sotheby's

paulfrasercollectibles

2015-06-26 13:09:31

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Picasso's 'golden muse' auctions for $44.7m at Sotheby's

Picasso's portrait of Marie-Therese Walter, his 'golden muse', attracted Asian buyers

Sotheby's Impressionist and Modern Art Evening Sale has been highlighted by the sale of Picasso's Femme assise pres d'une fenetre, a legendary depiction of his "golden muse", Marie-Therese Walter.

Picasso 1932 Marie-Therese Golden Muse portraitMarie-Therese remained with Picasso until he found his next 'muse', Dora Maar

The auction was held yesterday (February 5) in London, with Picasso's masterpiece selling for 28.6m ($44.7m), comfortably within its 25m-35m estimate.

According to the Wall Street Journal, the 1932 piece was secured by a single telephone bid from an Asian buyer, who also purchased Egon Schiele's Lovers - Self Portrait with Wally for 7.8m ($12.4m).

Since the slight downturn of China's economy, Asian buying on this scale has slowed down considerably. However, yesterday's sale saw several of the highest-selling artworks secured by Asian bidders, showinga returnof confidence in Western art.

The Picasso work was originally exhibited as part of the artist's major retrospective in the summer of 1932. This event is renowned within the art world as the moment when Picasso first revealed his mistress, Marie-Therese Walter, to his wife, Olga Kokhlova, leading to the downfall of their marriage.

Picasso would go on to create many other portraits of Marie-Therese, with another piece from the 1932 series, entitled Nature morte aux tulips, selling for $41m at Sotheby's last Impressionist and Modern Art evening sale in November.

Join the thriving market for Picasso with Paul Fraser Collectibles. We have asigned postcard of The Absinthe Drinker, one of the most famous works from his Blue Period. We also have signed, handwritten letters from French impressionists Claude Monet and Pierre-Auguste Renoir, which will provide the perfect complement to any collection.

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