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Rare Picasso expected to fetch up to £12m at Christie's Picasso painting sold for almost £13.5m at Christie's
(about 4 hours later)
A rarely seen painting by Pablo Picasso is expected to sell for up to £12m when it goes under the hammer later at Christie's auction house in London. A rarely seen painting by Pablo Picasso has been sold for almost £13.5m at Christie's auction house in London, exceeding expectations.
Jeune Fille Endormie (1935) is a portrait of the Spanish artist's lover. Jeune Fille Endormie (1935), a portrait of the Spanish artist's lover, had been estimated to sell for £9m-12m.
The artwork was donated to the University of Sydney, provided the establishment used money from the sale for scientific research.The artwork was donated to the University of Sydney, provided the establishment used money from the sale for scientific research.
Giovanna Bertazzoni from Christie's said the artwork was an "absolute jewel" of a painting. Giovanna Bertazzoni from Christie's said the piece was an "absolute jewel".
Marie-Therese Walter was the subject of many of Picasso's celebrated works.Marie-Therese Walter was the subject of many of Picasso's celebrated works.
The couple met in 1927 when he was 45 and she was 17. The couple spent time together at Picasso's country home, the Chateau de Boisgeloup, where he created a string of masterpieces.The couple met in 1927 when he was 45 and she was 17. The couple spent time together at Picasso's country home, the Chateau de Boisgeloup, where he created a string of masterpieces.
Nude, Green Leaves And Bust, another portrait of Walter sold last year for a record $106.5m (£65.5m).Nude, Green Leaves And Bust, another portrait of Walter sold last year for a record $106.5m (£65.5m).
Mr Bertazzoni said the artwork, which has only been seen in public once before, is expected to "excite collectors" from all over the world.
Dr Michael Spence from the university said it was a "very generous and far-sighted gift" that was donated to them by an anonymous person.Dr Michael Spence from the university said it was a "very generous and far-sighted gift" that was donated to them by an anonymous person.
"We are grateful for their extraordinary generosity and delighted with the outcome of the auction."
He said the money would go towards research into obesity, diabetes and cardiovascular disease.