Record estimate as Picasso work goes on auction at Christie’s
The controversial masterpiece by Pablo Picasso has finally returned to Christie’s after it was pulled from sale over alleged Nazi links in 2006. The portrait of Angel Fernandez de Soto (The Absinthe Drinker), is dated 1903 and is expected to fetch around $45-60 million according to the pre-sale estimate. What could be the highest amount ever paid for any work of art offered at auction in Europe also follows a February sale at rival Sotheby’s where a Giacometti sculpture went under the hammer for $104.3 million. Offered by composer Andrew Lloyd Webber, this important Picasso painting from his celebrated Blue Period features a seated man with a glass of absinthe and a pipe with smoke curling upwards. Proceeds from the sale of what is supposed to be one of the most important works of art to be offered at auction in decades, will go to Andrew Lloyd Webber Foundation, which promotes arts and culture in Britain.