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The Picasso, a 1932 work not seen publicly in 50 years, was purchased by an anonymous buyer from a world-class collection assembled by the late Los Angeles art patrons Frances and Sidney Brody, foreign media reported.
The vibrant, large-scale depiction of Picasso's mistress and frequent subject, Marie-Therese Walter, was the top priced work at Christie's sale of Impressionist and modern art.
The sale netted $335.5 million for the auction house.
"Obviously we're thrilled" with the final price of $106,482,500 including commission for the Picasso.
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