Picasso’s Women of Algiers may become the most expensive artwork sold at auction with an estimate of $140 million

Picasso’s Women of Algiers painting is scheduled to go under the hammer at the same auction as the famous Pointing Man and experts have claimed that the painting could pull in as much as $140 million which would make it the most expensive artwork sold at auction.

The graphic, vibrantly colored work belongs to a series of 15 works created by Picasso between 1954 and 1955. It has been included in major museum retrospectives of the artist.

Rising prices of such artworks are due to a desire among both established and new buyers to own the best and most bankable works. “I don’t really see an end to it, unless interest rates drop sharply, which I don’t see happening in the near future,” said Richard Feigen a Manhattan based dealer. He went on to add, “Buyers will flock in from the Far East, the Gulf and Europe.”

Sarah Lichtman, professor of design history and curatorial studies at The New School commented on the popularity of impressionist and modern artworks stating that “they are beautiful, accessible and a proven value … the works epitomize the conservative, moneyed establishment.”

This auction promises to be an historic one, you can learn more about what’s on offer here.

[Via – Huffingtonpost]

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