Picasso Painting Sold for $40 Million

pennypinch · #1 02-11-2011, 03:20 AM

A painting done by Picasso just sold at Sotheby's auction house in London for $40 million dollars!!!!!

Can you imagine buying a painting for that much money!!!!! Wow!

Quote:

An anonymous buyer on Tuesday paid about $40.7 million for "La Lecture," painted in 1932, said Sotheby's. A "heated" exchange among seven bidders lasted six minutes, with the winning bid placed by telephone, the auctioneer said.

I guess this was the first painting that Picasso did portraying his teen lover. He had added hints of her in previous paintings in the background.

Quote:

The auctioneer said the relationship "was kept a well-guarded secret for many years," partly because of the girl's age, and also because Picasso was married to Russian-Ukrainian dancer Olga Khoklova.
Eventually, Picasso "could no longer repress the creative impulse that his lover inspired," so he finally painted his mistress "in fully recognizable, languorous form," said a Sotheby's press release.

dimetime · #2 02-11-2011, 03:32 PM

Picasso was a great painter, however if I had $40 million dollars to spend I seriously doubt I would be spending it on a painting. I know many other ways I would be using that money.

Though I guess who ever had the money wanted the painting and got it. So I guess I am happy about it.

I wonder if we will ever know who purchased the painting?? It would be interesting to know, then again it will most likely never happen because of security reasons that the buyer will never be known.

To bad Picasso never was able to make that kind of money on his painting's when he was alive. I just think it is a bit shameful that works of art like this are only worth so much after the death of the artist.

moneysense · #3 02-15-2011, 05:05 AM

I agree with having better things to do with $40M. I would buy a farm and new cars and trucks.

Note that I have nothing against the masters, but those are just things to look at, nothing that can be used in every day life and anyway, I dont particularly like that painting. And again, nothing against the masters, its just that its not my cup of tea.