What's It Worth? by Leslie Hindman

What's A Blue Period Picasso Worth?

Picasso_PortraitofAngelFernandezdeSoto.jpg

Portrait of Angel Fernandez de Soto, Pablo Picasso, 1903

That is what the world will find out when Christie's sells an important masterpiece by Pablo Picasso (1881-1973) in their upcoming London Impressionist and Modern Art sale on June 23, 2010.  The painting, Portrait of Angel Fernandez de Soto, 1903, was executed during Picasso's highly acclaimed Blue Period and has an auction estimate of £30 million to £40 million, with all proceeds from the sale to benefit the Andrew Lloyd Foundation.

Garcon a la pipe, which sold at Sotheby's in May 2004 for $104,168,000 once held the title for the most expensive painting ever sold at auction.  Other notable Picasso's sold at auction include Dora Maar au chat selling for $95,216,000 at Sotheby's  in May 2006 and Femme aux bras croises, another Blue period painting, selling for $55,006,000 at Christie's in 2000. 

It will interesting to see if a new auction record for a Picasso will be set or if he will once again claim the record for the highest price for a work of art sold at auction.

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