Friday, May 15, 2015

$179 million For a Picasso as Painting Shatters Record at Christie’s Auctions

I am glad to let you know that the great twentieth century master is in the news again! An all time record was recently recorded at the world famous Christie’s at the latest art auction that took place. This is clearly the highest amount ever realised at any auction of a painting or any form of artwork. Exactly $179.4 million is the record value fetched by Pablo Picasso’s masterpiece titled ‘Les Femmes d’Alger, Version O’.

'Les Femmes d’Alger, Version O' by Picasso

A telephone bid made by an unidentified buyer was how the artwork was carted away, beating the last record which had stood since 2013, of the $142.2 million which was paid for the work of Francis Bacon’s triptych “Three Studies of Lucien Freud”. This was in the month of November, 2013.

During the recent auctions at Christie’s, the sale of Pablo Picasso’s painting was the peak of the event on that day. In the same day at the auctions, an all time bumper sale was also recorded in that some of the world’s wealthiest people who are chasing scarce masterpieces did not fail to cart away so much, resulting in the total gross of $706 million worth of art in just one evening! 

An assemblage of artworks spanning a period of over a hundred years of the Modernist (art) style was put together by the auction-house in an event it titled “Looking Forward to the Past”. In the words of the auctioneers, this is certainly a ‘new era …’ for art because a lot of private investor business moguls, and billionaires from all over the world are in a competitive race and mood with a biting hunger for acquisition of great masterpieces. This renewed interest and zeal is really aimed at acquiring a host of the scarce masterpieces that are available anywhere.

Thus the twentieth century master has continued to lead the pack in ‘fame and wealth’, and proving his mettle as a highly influential figure, genius and grand master of his art for more than four decades now since living this world. While the artist was alive and practicing, and even after his death, he has ever remained a dominant figure. 

But I want to ask - what could be the magic or the secret of Picasso’sgreat and unique success? What do you think of this great master of modern art, and his works; what is your opinion of the block-buster painting - Les Femmes d’Alger, Version O?

By Morgan Nwanguma

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