Picasso painting outdoes antiques valuation to go for £25.2m
It had an antiques valuation of up to £18 million.
A painting by legendary artist Pablo Picasso has sold for £25.2 million at auction, bettering its antiques valuation.
The item - which had a pre-sale estimate of between £12 million and £18 million - went under the hammer at Sotheby's in London.
And the piece - entitled La Lecture, which depicted his young mistress - was sold to an anonymous telephone bidder.
Last month, experts were predicting the painting would set new records when it was sold at auction following its display at Sotheby's in New York, Reuters reported.
What's more, Helena Newman, European head of impressionist and modern art at the auction house, said: "There continues to be a very, very strong global demand for quality works, from collectors both established and new."
Picasso, a famous Spanish artist, is well known all over the world for his abstract style of painting as he tried out a number of styles.
Posted by Keith Leicester