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Picasso auction breaks art world record, sells for $179m USD

The sale history of 'The Women of Algiers' has been a wise investment
By: Ben Gourlay | Celebrities & Entertainment News | Posted: May 12, 2015 12:58 am

Auction House Christie's broke the world record for a piece of art overnight, selling a work by famed Spanish painter Pablo Picasso for a massive $179 million U.S dollars, according to the Wall Street Journal.

 

 

The 1955 Picasso, titled 'The Women of Algiers' was originally purchased in 1954 as part of a collection of 15 works for $212,000 USD, before being sold off separately. In 1997, the same painting sold for $31 million USD, meaning the anonymous seller just turned a very tidy profit.

 

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'The Women of Algiers' is one of the final Picasso's still in private hands.

NEWS SOURCES:Wsj.com

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