Work by Pablo Picasso goes up for auction for US$120 million

The world of art is about to be shaken by the potentially record-breaking sale of the work “Woman with a Watch”, created by the undisputed master Pablo Picasso. In November, the eyes of art enthusiasts will be on this event that highlights a piece valued at more than US$120 million. The masterpiece, which depicts a young Picasso lover in vibrant shades of royal blue, green and red, promises to be the star of the fall auction season.

Coming from the valuable collection of Emily Fisher Landau, who passed away at the age of 102 in March, the 1932 painting is just one of 120 impressive pieces that make up her legacy. As published by the Wall Street Journal, estimated at US$400 million, the collection also includes majestic works by renowned artists such as Jasper Johns, Ed Ruscha and Andy Warhol. In light of the current market downturn, experts and enthusiasts are eager to gauge the level of global bidder interest in this artistic treasure.

Brooke Lampley, head of global fine art at Sotheby’s, was full of praise for Picasso’s work, emphasizing the resilience of masterpieces on the market. Lampley revealed that Sotheby’s guaranteed the consignment, promising Fisher Landau’s heirs to buy the pieces, including the outstanding Picasso, if no other bidders appear in the sales scheduled for November 8th and 9th.

To set a new record, “Woman with a Watch” will need to surpass the US$179.4 million milestone achieved by “Women of Algiers (Version O)” in 2015. It is worth noting that collectors tend to especially value Picasso's works from 1930s, with half of the artist's 10 most expensive works originating from that period.

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