By: Ula Ilnytzky, Associated Press Writer
NEW YORK, NY (AP).- A 1932 Pablo Picasso painting of his mistress has sold for $106.5 million, a world record price for any work of art at auction. "Nude, Green Leaves and Bust," which had a pre-sale estimate of between $70 million and $90 million, was sold at Christie's auction house on Tuesday evening to an unidentified telephone bidder. There were nine minutes of bidding involving eight clients in the sale room and on the phone, Christie's said. At $88 million, two bidders remained. The final bid was $95 million, but the buyer's premium took the sale price to $106.5 million. Conor Jordan, head of impressionist and modern art for Christie's New York, said he was "ecstatic with the results." "Tonight's spectacular results showed the great confidence in the marketplace and the enthusiasm with which it welcomes top quality works," he said. The striking work of Picasso's muse and mistress Marie-Therese Walter has been exhibited ... More
