Picasso sells for $67M in windfall for American tycoon

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Picasso sells for $67.45 mn in windfall for US tycoon - A Picasso picture  of your  cabaret artist,  of which  carries  a great  second painting  to the  reverse, sold  for  $67.45  thousand   in  New York Thursday, scoring  a good  windfall  with regard to  American billionaire  bill  Koch.

It  \'m   your own  top lot  of a  season  consequently  far, proving  an  savvy investment  to its  Republican party donor  exactly who  paid  just  $3  mil   because of its  canvas  throughout  1984  AND  later discovered he  managed to get   2   to its  price  associated with  one.

Sotheby's had valued  your own  canvas, "La Gommeuse,"  on  $60 million.  It   are  painted  with  Paris  within  1901  Any time   your own  artist  are   simply just  19  many years  old  AS WELL AS  grieving  the  suicide  of a  close friend.

In 2000,  through  restoration work, Koch discovered  The idea  there  was  another painting  to the  reverse  :   the  mocking depiction  connected with  Picasso's art dealer  :   The item  had been hidden under  your current  lining  with regard to   a great  century.

It  are   a great  lucrative night  intended for  Koch. Sotheby's  also  sold his Monet "Nympheas" (water lilies) study  in  oil  intended for  $33.85 million, clearing  their  minimum pre-sale estimate  of  $30  for you to  $50 million.

Another highlight  feel   a  Vincent van Gogh,  that  sold  pertaining to  $54 million.

"Paysage sous un ciel mouvemente" (moving sky  a lot more than   the  landscape)  feel  painted  a good  year  before   your current  artist's death  AND  shows storm clouds  over  fields outside Arles, France.

And  one   of any  finest  works   through  Polish-Russian painter Kazimir Malevich still remaining  throughout   secret  hands, called "Mystic Suprematism," sold  for  $37.8 million.

A small van Gogh  of a  fat baby  throughout   the  bonnet, "Le Bebe Marcelle Roulin" smashed  it\'s  pre-sale estimate  coming from  selling  pertaining to  $7.64  zillion   right after   an   extended   AND ALSO  frenetic bidding war.

David Norman, co-chairman  of   world-wide  impressionist  IN ADDITION TO  modern art, joked  The item   The idea   feel   the   just about all  expensive portrait  of the  baby he had seen  within  30 years.

The auction saw Sotheby's kick back  having a  strong performance  right after   an  rather sluggish sale  in  Wednesday  connected with  $377  thousand  worth  involving  art collected  via  self-made billionaire Alfred Taubman,  the  former Sotheby's chairman.

Taubman did  an  brief stint  throughout  jail  throughout  2002  intended for  price fixing.

The  next  week sees Christie's  ALONG WITH  Sotheby's  zero  head  for you to  head  in  auction  revenue   6  months  after   the  spring season smashed  a good  string  of   accounts   IN ADDITION TO  netted  a lot more than  $2.6  billion dollars   for the  rival auction houses.

The  all  expensive lots  in 2010   tend to be   the  sumptuous nude  coming from  Modigliani valued  with  $100 million,  AND   a good  pop art masterpiece  via  Roy Lichtenstein  approximated   at  $80 million.

Both  zero  under  ones  hammer  in  Christie's.