Early Picasso Expected to Fetch Over $45M at Auction

Early Picasso Expected to Fetch Over $45M at Auction

Published: May 31, 2016 | By: American Luxury Staff

Any work by renowned artist Pablo Picasso is valuable, but one of his pieces is expected to fetch more than $45 million at auction this June. The artist’s 1909 cubist portrait, Femme Assise, will be on the auction block at Sotheby’s London and has been in the hands of a private collector for more than 40 years.

Rumored to have been inspired by his lover and frequent model Fernande Olivier, the painting portrays a woman using bold and angular beige, green, and gold shapes. The piece is just one of a series of canvases that established Picasso as an artist of Cubism.

“It has been decades since a Cubist painting of this caliber has been offered at auction, since virtually all the significant works of this period are in international museums and institutions,” said Helena Newman, global cohead of Sotheby’s Impressionist & Modern Art department. “Femme Assise is one of the artist’s greatest masterpieces to be sold in a generation.”

Femme Assise is a marker of the revolutionary style that swept the art world, and the incredible painting last sold for $500,055 through Sotheby’s back in 1973. Picasso’s masterpiece will headline at Sotheby’s June Impressionist & Modern Art Evening Sale, and it will be on display at the galleries of Sotheby’s London June 10 through 21.

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