Arts News
Picasso painting sold for 559,000 dollars in Stockholm
Nov 4, 2005, 13:50 GMT
Stockholm - A 1920 Cubist painting by Pablo Picasso changed hands Friday for the price of 4.5 million kronor (559,000 dollars), a Swedish auction house said.
Bidding for the 21x27 centimetre gouache started at 1.8 million kronor (223,000 dollars), Stockholm Auktionsverk spokeswoman Anna Hamilton told Deutsche Presse-Agentur dpa.
Picasso painted 'Guitare et partition sur gueridon' (guitar and score on a pedestal) in Juan-les-Pins, southern France.
'Interest for the painting was high,' Hamilton said, adding that two rival bidders remained in the final run.
'Unfortunately I cannot reveal any details about the buyer,' she said.
Interest in Sweden and abroad was fuelled by the fact that few works by Picasso enter the market despite his prolific production during a long career, Hamilton said.
The painting was sold by an unnamed Swedish family that acquired it in the 1960s from the art dealer Galerie Beyeler in Basel, Switzerland.
© dpa - Deutsche Presse-AgenturCOMMENT
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