Picasso masterpiece 'Woman with a Watch' sells for nearly $140M
The masterpiece depicts Pablo Picasso's mistress and beat its $120M valuation
A bright blue painting by Pablo Picasso depicting his young mistress has sold for a staggering $139.4 million, the second-highest price ever achieved for the artist, according to Sotheby's in New York.
The masterpiece, known as "Femme à la Montre," (Woman with a Watch) portrays Marie-Therese Walter, a French model who was a lover of the Spanish artist and the subject of many of his paintings.
An anonymous buyer scooped the painting after being locked in a four-minute bidding process over the phone with two other collectors, according to The New York Times.
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A painting by Pablo Picasso called "Femme a la Montre" is displayed at Sotheby's in New York City on Nov. 8, 2023. The masterpiece sold for $139.4 million. ( Photo by ANGELA WEISS/AFP via Getty Images / Getty Images)
The work had been valued at $120 million before it went to auction, according to the BBC.
"Femme a la Montre" is a portrait of Walter seated in a throne-like chair against a blue background. Known as Picasso's "golden muse," Walter was 17 when she met the then 45-year-old Picasso in Paris, and the pair later entered into a secret relationship while he was still married to Olga Khokhlova, a Ukrainian ballerina, according to the BBC.
Walter was also featured in Picasso’s 1932 work "Femme Nue Couchee" (Nude Reclining Woman), which sold for $67.5 million at auction in 2022.
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In 2015, a Picasso oil painting called "Les femmes d’Alger" (Women of Algiers) became the most expensive artwork ever sold at auction when it went for $179.4 million.
Picasso, who lived to 91, was one of the most influential painters and sculptors of the 20th century, known for his artistic versatility and extraordinary talent.
A large crowd gathered for a bidding process in Sotheby's in New York, where a painting by Pablo Picasso called "Femme a la Montre" was up for auction. ( Photo by ANGELA WEISS/AFP via Getty Images / Getty Images)
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He was famous for switching his artistic techniques and styles throughout his life. His critical acclaim in the modern art scene gained him a mass following the likes of which the world had not previously seen.
Picasso is estimated to have completed over 13,000 paintings and 100,000 engravings and prints before he passed away in 1973.
Philip Nieto contributed to this report.