The Straits Times
Published on Oct 06, 2012

Picasso, Warhol works expected to sell for $43m each


NEW YORK (REUTERS) - A 1932 portrait by Pablo Picasso of his young lover and a pioneering 3-D Andy Warhol painting of the Statue of Liberty are expected to sell for at least US$35 million (S$43 million) each, but could fetch much more when they are auctioned next month.

The two works, Picasso's Nature Morte Aux Tulipes, and Warhol's Statue Of Liberty will be the highlights of New York autumn sales at Sotheby's and Christie's.

The Picasso masterpiece is one of several renderings of his muse Marie-Thérèse Walter and considered by art experts to be one of his most important works. It carries a pre-sale estimate from US$35 million to up to US$50 million ahead of the Nov 5 sale at Sotheby's.

"The young woman, with her Grecian profile and athletic, statuesque frame, inspired Picasso's greatest achievements in a variety of media," said Simon Shaw, Sotheby's Impressionist and Modern Art department in New York.