Lost Picasso Painting Sells For Over $106 Million
“Nude, Green Leaves, and Bust” Breaks World Record
In the modern world of digital photography, photo scanning, and computer back-up drives, the notion of a “lost image” seems foreign. But a Picasso painting called “Nu au Plateau de Sculpteur” (Nude, Green Leaves and Bust) was considered lost until recently, when it surfaced as part of the private collection of the late Los Angeles philanthropist Frances Lasker Brody, who died last November. Brody was the wife of real estate developer Sidney F. Brody; the couple amassed a large collection of art during the 1940s and 1950s, and most of it has remained in their home ever since.
When the “lost” painting was auctioned as part of the Christie’s Impressionist and Modern Art Evening Sale (which brought in a total of over $335 million) it fetched a record-breaking $106,482,500, the biggest sum ever paid for a single work of art. The Brody collection also broke the Christie’s record for the highest total achieved at a single-owner sale.
The sensuous painting comes from the acclaimed series of paintings from 1932 depicting Picasso’s muse and mistress, Marie-Therese Walter. As the most anticipated piece to come to market from private hands in the last ten years, “Nude, Green Leaves and Bust” had a unique appeal in that it was considered lost for many years. Experts considered the painting lost because it had never been published in color, and because its whereabouts where unconfirmed for years. Now, thanks to photo scanning technology, you don’t have to pay $106 million to get a glimpse of this stunning painting.
In 2004, a 1905 Picasso painting called “Garcon a la Pipe” (Boy with Pipe) fetched $104,168,000. But Picasso briefly lost the title of biggest money-maker when Alberto Giacometti’s 1960 work “L’Homme Qui Marche I, bronze” (Walking Man 1) sold for $104,327,006 earlier this year.
Picasso regained his title when the lead Christie’s auctioneer, Christopher Burge, sold “Nude, Green Leaves and Bust” for $95 million. After the buyer’s premium was added (the auction house fee) the total price came to over $106.5 million. The bidding included eight clients, and took only nine minutes. When the price reached 88 million, only two clients remained, and it seems this one-on-one shootout helped raise the selling price. The name of the buyer has not been disclosed at this time.
Tags: photo scanning, Picasso
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