, in New York, sold at auction last night for $37.1 million, showing the high-end art market is still booming.In its first appearance at auction in more than seven decades, Guitare sur une table (1919) surpassed its estimate of $25 million. It became one of the most valuable works from the artist's Cubist period ever sold at auction.The painting, formerly owned by the late William S Paley, founder of the Columbia Broadcasting System (CBS) television and radio network, was loaned to MoMA in Manhattan. The proceeds of its sale will benefit charities including the museum.It was among a collection of works from Paley's estate sold at Sotheby's,){kind=link}
A painting by Pablo Picasso that was previously displayed in the Museum of Modern Art (MoMA), in New York, sold at auction last night for $37.1 million, showing the high-end art market is still booming.
In its first appearance at auction in more than seven decades, Guitare sur une table (1919) surpassed its estimate of $25 million. It became one of the most valuable works from the artist’s Cubist period ever sold at auction.
The painting, formerly owned by the late William S Paley, founder of the Columbia Broadcasting System (CBS) television and radio network, was loaned to MoMA in Manhattan. The proceeds of its sale will benefit charities including the museum.
It was among a collection of works from Paley’s estate sold at Sotheby’s,
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