Picasso's “Women of Algiers” breaks all-time auction recordMay 12, 2015 - 10:53 AMT PanARMENIAN.Net - Picasso's Women of Algiers has become the most expensive painting to sell at auction, going for $179.3m at Christie's in New York, BBC News reports. Eleven minutes of prolonged bidding from telephone buyers preceded the final sale - for much more than its pre-sale estimate of $140m. The evening sale also featured Alberto Giacometti's life-size sculpture Pointing Man, which set a record as the most expensive sculpture, at $141.3m. The buyers chose to remain anonymous. The Picasso oil painting is a vibrant, cubist depiction of nude courtesans, and is part of a 15-work series the Spanish artist created in 1954-55 designated with the letters A to O. The final price of $179,365,000 includes Christie's commission of just over 12%. The previous world record for a painting sold at auction was $142.4m, for British painter Francis Bacon's Three Studies of Lucian Freud. That sold at Christie's in 2013. Experts believe the investment value of art is behind the high prices. "I don't really see an end to it, unless interest rates drop sharply, which I don't see happening in the near future," said Manhattan dealer Richard Feigen. Photo: Reuters Related links: Top stories The creative crew of the Public TV had chosen 13-year-old Malena as a participant of this year's contest. She called on others to also suspend their accounts over the companies’ failure to tackle hate speech. Penderecki was known for his film scores, including for William Friedkin’s “The Exorcist”, Stanley Kubrick’s “The Shining”. The festival made the news public on March 19, saying that “several options are considered in order to preserve its running” Partner news | Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. Armenian Economy Minister to make trip to UAE May 20-22 A delegation led by Minister of Economy Gevorg Papoyan will travel to the UAE capital of Abu Dhabi on May 20-22 Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. |