London saw a new record in art painting sales after a rare portrait by Pablo Picasso was sold for $70 million at Sotheby's auction, London.
The painting, a portrait featuring Picasso’s muse Marie-Therese Walter drawn in 1937, fetched the second highest price among paintings sold at a European auction, after “The Massacre of the Innocents”, which was sold for nearly $70 million 16 years ago.
The auction saw fierce speculations among four customers who competed to buy the portrait, which was auctioned for the first time.
By the end of the bids, Broker Gary Jones managed to buy it for a client whose identity was kept unrevealed.
