Cubist painting sets new record at Auction

Pablo Picasso’s early cubist painting, Femme Assise 1909, was estimated upwards of £30m ($42.6m) and sold at Sotheby’s on Tuesday for £43.3m ($63.6m). Femme Assise has been acquired by Adam Chinn, former partner of law firm Wachtell, Lipton, Rose & Katz and co-Founder of Centerview Partners (a boutique investment bank), who is Executive Vice President of Worldwide Transaction Support at Sotheby’s.

Femme Assise was inspired by Picasso’s lover, Fernande Olivier, and forms part of the first collection of his true cubist style. Picasso already holds the record for the most expensive artwork sold under the hammer and now this painting sets a new record for Cubist art sold at auction.

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