Picasso mistress portrait has antiques valuation of $27m
An antiques valuation of $27 million has been placed on a Pablo Picasso painting.
A portrait painted by legendary artist Pablo Picasso of his mistress has been given an antiques valuation of $27 million (£17.25 million).
The 1932 piece - entitled La Lecture - is of Marie-Therese Walter and is currently on display at Sotheby's in New York this week, Reuters reports.
It is one of a number of artworks being exhibited in the US city before they go under the hammer in London on February 10th.
And experts are hoping some of the pieces, including the Picasso painting, will set new records when they are sold.
Helena Newman, Sotheby's European head of impressionist and modern art, said: "There continues to be a very, very strong global demand for quality works, from collectors both established and new."
What's more, a Paul Gauguin painting in tribute to Vincent Van Gogh is set to go up for sale in the Big Smoke next month with an antiques valuation of £10 million.
Posted by Lisa Marriott