Pablo Picasso’s (1881-1973) Femme Assise Prés D’une Fenêtre (1932) sold for nearly $45 million at Sotheby’s Impressionist & Modern evening sale on Tuesday, February 5, 2013 in London. The coveted portrait of Picasso’s lover and muse, Marie-Therese Walter, came from a private collection and was last seen on the market in 1997 when it sold for $7.5 million. The portrait was guaranteed to sell due to a third-party “irrevocable bid” and while the buyer remains anonymous, some believe it was the guarantor, represented by Patti Wong, the chairman of Sotheby’s Asia.
The auction, which totaled $190 million, also included a separately catalogued section of 21 Surrealist works. All but three works sold, adding $26 million to the overall sale. Highlights from this section included Joan Miro’s (1893-1983) Femme revant de l’evasion (1945), which sold for $13 million and also carried a third-party guarantee.
Another considerable sale of the night was a series of three drawings by Egon Schiele (1890-1918), which brought $22 million. The works were put on sale by Vienna’s Leopold Museum. Another Schiele work, a pencil, gouache, and watercolor piece completed in 1915, sold to Wong on behalf a client for $13 million.
The sale was Sotheby’s second highest for an Impressionist sale in London.
