Picasso sold for €29.7m

By | February 23, 2011

Geoffrey Donoghue of Always Marbella property sales and rentals, reports on the latest news and events. For more information please visit Always Marbella’s website at www.alwaysmarbella.com

An American private collector has bought Malaga born painter Pablo Picasso’s ‘La Lecture’ for €29.7m at a Sotheby’s auction in London. The picture was inspired by his lover Marie-Therese Walter and painted in 1932.
Sotheby’s had valued the painting between £12-18 million (€14-21 million).

In the end the masterpiece sold for £25 million during an auction that saw 42 other pieces of the Spanish painters and other surrealist works go under the hammer.

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