With the restitution claims settled, Andrew Lloyd Webber’s foundation can finally sell their blue period Picasso. Lindsay Pollock reports that the painting will be in the June Impressionist and Modern Sale at Christie’s in London.

Picasso’s blue period 1903 Portrait of Angel Fernandez de Soto,  depicting a sullen, louche booze-hound, has been re-consigned to Christie’s for sale on June 23 during the London evening Impressionist and modern art auction. The work is estimated to fetch £30 to £40 million pounds ($46 million-$61 million).

Bloomberg’s Scott Reyburn, who seems to have had the news straight from Christie’s, adds this illuminating quote one who the market is for such a painting:

“A ‘Blue Period’ Picasso is the sort of painting that could appeal to a new Chinese buyer,” Giovanna Bertazzoni, head of Christie’s London-based Impressionist and modern department, said in an interview. “There is a new breed of Medici-style collectors who want to buy exceptional art from any period.”

Andrew Lloyd Webber’s $61m Blue Period Picasso Back at Christie’s (LindsayPollock.com)

Lloyd Webber to Sell $60.9m Picasso for Charity (Bloomberg)