Volkswacht Bodensee - Forgotten Picasso portrait of Dora Maar sells for $37 mn

NYSE - LSE
RBGPF 0.12% 82.5 $
CMSC -0.17% 22.95 $
NGG -0.52% 90.42 $
AZN -0.38% 191.29 $
RELX -0.52% 34.29 $
RIO -0.07% 89.8 $
BP 2.17% 43.85 $
RYCEF 2.3% 16.5 $
GSK -0.67% 53.41 $
BCE 0.42% 26.01 $
BTI -0.64% 60.55 $
CMSD -0.31% 22.88 $
JRI -0.64% 12.46 $
BCC 1.65% 72.92 $
VOD 1.02% 14.75 $
Forgotten Picasso portrait of Dora Maar sells for $37 mn
Forgotten Picasso portrait of Dora Maar sells for $37 mn / Photo: © AFP

Forgotten Picasso portrait of Dora Maar sells for $37 mn

A previously unknown portrait by Pablo Picasso of French artist Dora Maar -- the painter's best-known muse -- sold for 32 million euros ($37 million) in Paris on Friday, auction house Drouot told AFP.

Text size:

Entitled "Bust of a Woman With a Flowery Hat", the oil portrait of photographer, painter and poet Maar is a riot of colours and thick, black lines.

It was "sold to a foreign buyer present in the room", the auction house said.

The Spanish master painted it on July 11, 1943 and it was acquired in August 1944 by a private French collector, grandfather of the former anonymous owners.

The sale far outstripped the reserve price of eight million euros ($9.5 million).

Picasso sales are used as a leading indicator for the art market as a whole, which has slumped in recent years.

I.Stoeckli--VB