Marina Picasso’s $10.3m White Glove Sale

Buried beneath all of the big Basquiat news last week was this almost unexpected sale of Picasso works on paper and ceramics from his granddaughter Marina Picasso who is divesting herself of the artist’s work. The sale was 100% sold and made $10.3m against a high estimate of $4.6m:

Scott Niichel, Co-Head of Sotheby’s Impressionist & Modern Art Day Sale, said: “The phenomenal results of today’s ‘Picasso Man & Beast’ auction completed our Impressionist & Modern Art sales for the week, with prices far exceeding their pre-sale estimates and achieving rare ‘white glove’ status, with all 111 works on offer successfully sold. Collectors from around the globe aggressively competed for the opportunity to own these works on paper and unique ceramics, all featuring Picasso’s most celebrated styles, genres and subjects. We are grateful to Marina Picasso for again entrusting us with works from her distinguished collection, following the success of ‘Picasso in Private’ held in Sotheby’s London in February 2016.”