News

Picasso’s portrait of a young lover to sell for $55 million at auction

In 1932 Pablo Picasso painted the “Femme Assise Près d’une Fenêtre (Marie-Thérèse)” (” The Woman Sitting near a Window”).

This portrait is of this teenage lover and most important ‘muse’ from a very critical point of his career.

It will go on sale in Christie’s lately rebranded 20th Century Art Evening Sale on May 11 in  New York on May 11. It estimates to go for $55 million.

The co-head of the 20th Century sale, Vanessa Fusco, says that the year 1932 was a year that was going to either make it or break it for Picasso.

She further says:

He was 50-years-old. He got accomplished, popular, famous, but what comes after critical success? Would this pioneer continue to innovate, or would he just rely on his past, on the reputation he’d built up?”

Picasso has a thunderous marriage with Olga Khokhlova. However, he began an affair with a 17-year-old named Marie-Thérèse Walter.

Marie-Thérèse Walter became the inspiration for many of his drawings, canvases, and sculptures.

Many paintings from this period would often show nude women.

However, Picasso’s painting “Femme Assise Près d’une Fenêtre (Marie-Thérèse)” shows a woman that is present and wide-awake.

According to Fusco, the most striking characteristic of this art is its monumental scale. It is five feet tall, and the woman lives on the canvas.

Furthermore, Fusco says that there is more thought put into her and a deep sensuality without it being degrading and not like other paintings.

In Feburary 2013, was where this painting “Femme Assise Près d’une Fenêtre” last got auctioned.

It was sold for $44.8 million to a third-party guarantor in London.

This buyer was the only one bidding over this artwork with the chairman of Sotheby’s Asia, Patti Wong, over the phone.

This painting first appeared in New York at Christie’s in 1997 and got sold for $7.5 million.

Recently, the painting was put on public display in Picasso 1932, the exhibition made for the year of wonders artists.

The painting will not get auctioned at the new 20th Century Art Evening Sale, which will have various works from the 1870s to 1980s.

According to Fusco the new format that has gotten introduced as an “organic need to redefine the way auctions were held and to respond to the way collectors are collecting.”

Ahmad Idrees

The founder and CEO of Thrive Verge, Thrive and The Verge Revolution. In 2016, Launched Thriveverge, a leading behavior change tech, news, media, entertainment and daily news company with the mission of changing the way we work and live by ending the collective delusion that burnout is the price we must pay for success.

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