A painting by Pablo Picasso has sold for more than $100m – marking the fifth work by the Spanish artist to sell for a nine-figure sum.
Woman Sitting Near a Window (Marie-Therese) sold for $103.4m (£73.5m) on Thursday at Christie’s auction house in New York.
That figure comprises $90m for the painting itself, with fees and commissions on top, Christie’s said.
The auction house had estimated the painting would sell for $55m.
The work, titled Femme Assise Pres d’Une Fenetre (Marie-Therese) in Spanish, was sold after 19 minutes of bidding.
Bonnie Brennan, president of Christie’s America, said the success of Thursday’s auction “signals a real return to normal and also a message that the art market is really back on track”.
Thursday’s auction marked the fifth work by Picasso to have sold for more than $100m.
He is one of a very small number of artists to have sold multiple works above this threshold, alongside Jackson Pollock, Vincent van Gogh and Francis Bacon.
The record for a Picasso is $179.4m (£127.6m), which was paid for his painting The Women of Algiers in 2015.
The last painting to fetch more than $100m was Claude Monet’s 1890 work Meules, which reached $110.7m in New York in 2019.
This is the first time in two years that a work has broken the $100m mark since an 1890 Claude Monet Meules painting reached $110.7m (£78.7m) at Sotheby’s, also in New York.