Art Investment

Bidding The World of Picasso Sotheby's auction house raised nearly £5 million

The auction catalog was sold out more than 90 %

Auction The World of Picasso, in the directory which includes paintings, drawings, unique ceramic, draw works (ceramics and graphics), photography and an artist's palette — only 205 lots, expected triggered an increased interest among fans and collectors of Picasso's works. In the end, the ten-day auction (auction was held from 8 to 18 June 2020) new owners have acquired the 188 lots, and the total amount of art sold was £4,83 million ($6.1 million). While 83 % of all sold lots went expensive as the upper estimate.

Most expensive item sold at this auction, was a large (66 cm) ceramic vase, Grand Vase aux Femmes Nues — one of 25 copies, released on factory Maduro in 1950 inherited by the new owner for £435 million ($540 thousand).

Second place ranking in the price of lots sold have held the sketch in charcoal on paper for the composition "Three women", Picasso painted in 1907-1908, and arising from the collection of Marina Picasso. Estimate £30 thousand —£40 million, the drawing was sold for £325тыс. ($402 million) was 11 times higher than the starting price.

In third place was another graphic work from the collection of Marina Picasso — sketch for the famous painting by African artist (Cezanne) period "Pond" ("Reservoir at Horta de Ebro", MOMA, new-Йорк), written in 1909. The sketch is dated in the summer of 1909, was put up for auction with an estimate of £20 thousand — £30 thousand for the 34 step reached a final price of £237,5 thousand ($294 thousand). Great success among the participants enjoyed the used of an artist's palette: their prices have dramatically soared much higher estimate. The most expensive of them was the palette, dated 17 June 1961, estimated at £4thousand. — £6 thousand: for the 39 steps the price has risen from start up to £56,25 million ($69,6 million).

Thus, we can rightly say that the last trades in The World of Picasso — one of those cases where the result is not only justified, but also exceeds the pre announced expectations and evaluation.


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