Picasso painting sells for $103 mn at Christie's in New York

Pablo Picasso's "Woman sitting by a window (Marie-Therese)" sold Thursday for $103.4 million at Christie's in New York, AFP reported, citing the auction house.

The painting, completed in 1932, was sold for $90 million, which rose to $103.4 million when fees and commissions were added, after 19 minutes of bidding, Christie's said.

The sale confirms the vitality of the art market despite the Covid-19 pandemic -- but also the special status of Picasso, who was born in 1881 and died in 1973.

The same painting was acquired only eight years ago at a London sale for 28.6 million pounds, or about $44.8 million, less than half the price offered Thursday.

Five works by the Spanish painter have now crossed the symbolic threshold of $100 million.

#AuctionUpdate Pablo Picasso, 'Femme assise près d'une fenêtre (Marie-Thérèse)' realizes $103,410,000 after over 19 minutes of bidding! pic.twitter.com/G7oVzG5KMA

— Christie's (@ChristiesInc) May 14, 2021