Picasso Painting Sells for $179M, Sets World Auction Record

A painting from Pablo Picasso set a world record for artwork at auction, selling for $179.4 million on Monday evening.
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A painting from Pablo Picasso set a world record for artwork at auction, selling for $179.4 million on Monday evening. A sculpture by Alberto Giacometti set a record for most expensive sculpture, at $141.3 million. Picasso’s ‘Women of Algiers (Version O)’ and Giacometti's life-size ‘Pointing Man’ were among dozens of masterpieces from the 20th century Christie's offered in a curated sale titled ‘Looking Forward to the Past.’ The Picasso price, $179,365,000, and the Giacometti price, $141,285,000, included the auction house's premium. The buyers elected to remain anonymous. Overall, 34 of 35 lots sold for an auction total of $706 million. Experts say the high sale prices were driven by artworks' investment value and by wealthy collectors seeking out the very best works.