A painting of Dora Maar by Pablo Picasso has sold for $95.2 million at a Sotheby’s auction in New York. The estimate of $50 million was almost doubled!
The work was completed in 1941 and titled “Dora Maar au Chat”.
It might have the Picasso signature on it, but is it really one of his better paintings? It is the second most expensive painting ever sold!
Picasso Portrait of Lover Sells for $95.2 Million at Sotheby’s
“There is a lot of newly minted wealth,” collector and money manager Scott Black, president of Boston-based Delphi Management Inc., said after the sale. “This is a way to confirm status, by buying a collection with a signature. New wealth doesn’t know one period from the next.” Bloomberg
The Picasso painting helped Sotheby’s total auction sales for the night to $207.6 million, which passed the $180 million total of Christies the previous night.