More from Pollock and Reyburn coming out of Frieze week in London. Here the Bloomberg writers follow up the sale of Picasso’s Portrait de Sylvette:
A Picasso painting that had been on show last week at London’s Pavilion of Art & Design with a price of 4 million pounds ($6.6 million) has found a buyer. Picasso’s 1954 “Portrait de Sylvette,’’ offered by the Mayfair-based Lefevre Fine Art, was sold to an anonymous collector on Oct. 19, the day after the fair closed, said the London art dealer and agent Kenny Schachter, who was representing the client, in an e-mail.
The 2-foot-6-inch-high canvas was one of more than 40 paintings, sculptures and drawings Picasso produced of the 19- year-old Sylvette David in the space of a month in 1954. Alexander Corcoran, chairman of Lefevre, confirmed the sale had been made, refusing other details and citing client confidentiality. […]
“There’s a flight to quality,’’ said Schachter, commenting on the Picasso purchase. “I’d rather pay a high price for a work that has some history. In these uncertain times, buying a Picasso isn’t conservatism, it’s a reversion to quality.” He would not reveal the final purchase price.