Picasso Painting Sells for $179.4 Million; Sets Auction Record

“Pablo Picasso’s ‘Les Femmes d’Alger (Version ‘O’)’ sold for $179.4 million, setting a record for any artwork sold at auction. The price for the painting, sold Monday at Christie’s in New York, breaks the record held by Francis Bacon’s $142.4 million triptych since November 2013. The auction house had valued the Picasso at $140 million, the highest presale target of any work. The sale price includes commission.  Depicting a group of courtesans, the Picasso painting is based on Eugene Delacroix’s work of a similar title. Picasso explored the theme through a group of 15 paintings, designating the versions from A to O.”

http://www.bloomberg.com/news/articles/2015-05-11/picasso-painting-sells-for-179-4-million-sets-auction-record

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