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Picasso’s ‘Le Reve’ Sold For Record $155m

Source : | 27 March 2013 |  Arts & Culture | 500 views


By Larbi Arbaoui

Morocco World News

Taroudant, Morocco, March 27, 2013

According to Reuters, the Spanish cubist painter Pablo Picasso’s painting “Le Reve” was sold to the American billionaire Steve A Cohen for a record $155m, making it the most expensive of the Spanish artist’s works.

The well-known art collector Cohen “bought the oil painting of Picasso’s mistress Marie-Therese Walter, titled Le Reve, from casino mogul Steve Wynn,” The New York Post reported.

Marie-Thérèse is the model for Picasso’s Le Rêve (“The Dream”), 1932.

The oil painting (97 / 130 cm) is said to have been completed in one afternoon in 1932 when Picasso was 50 years old, portraying his mistress, Marie-Therese Walter, who was 22 years when she sat in his studio in Paris on a chair.

The price of the painting is reported to be one of the most expensive in the US.

The painting was bought for the first time in 1941 for $ 7000 by the American brothers Victor and Salli Ganz, investors in the field of art, and later to a wealthy Austrian for $ 48 million, by auction in 1997. In 2001 it was acquired by Steve Wynn for more than $60 million. 12 years later the painting became Cohen’s for $ 155 million.

Ranked by Forbes as the 106th richest man in the world, the American hedge fund manager has an estimated net worth of $8.8 billion as of March 2012.

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