Picasso painting ‘La Lecture’ sold for $40 million in London auction

By on Feb 11, 2011 in Arts, Europe, Lifestyle Comments

London, England – A Pablo Picasso painting called ‘La Lecture‘ was sold for slightly more than $40 million in an auction in London on Tuesday, February 8, 2011.

Picasso painting ‘La Lecture’
Photo credit: Sothbys.com

As published on a pdf file at Sothbys.com, the 1932 Picasso painting named ‘La Lecture‘ was bought by an anonymous bidder for $40,711,612 (£25,241, 250) after winning the bid over the telephone among six other bidders, which lasted for about six minutes.

“We were thrilled with the price achieved for Picasso’s La Lecture – an exceptional work from one of the artist’s most celebrated periods.” Sotheby’s Impressionist and Modern Art Europe chairperson Helena Newman was quoted as saying.

Apparently, ‘La Lecture‘ is a celebrated masterpiece of Pablo Picasso back in 1932; depict his then 17-year old lover named Marie-Therese Walter, sleeping in an armchair; who was also his model for his other paintings.

Their relationship was reported to have been a ‘well-guarded secret’ for years, not only because Walter was very young but also because Picasso was married to Olga Khoklova, a Russian-Ukrainian dancer.

According to Sothby’s auction, this was the first time that ‘La Lecture‘ was sold, and was bought with the price more than double the minimum expected selling price, which is $18.5 million.

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