There is an invisible, you might even say conceptual, addition to Pablo Picasso ’s “Nude, Green Leaves and Bust.” An enormous price tag reading “$106.5 million” might as much be hanging on the wall beside it.
As the fine art market rebounds from a two-year slump, investors should consider what happened when two established appraisers were called upon to place a value on Hole and Vessel II, an abstract sculpture by Anish Kapoor .
Pablo Picasso’s 1932 lilac-hued oil painting of his young mistress, Marie-Therese Walter, sold for a record $106.5 million in New York last night, hours after the U.S. stock market had its biggest drop since February.
Pablo Picasso met Francoise Gilot, then a 21-year-old painter, in a Paris restaurant in 1943 during the Nazi occupation, and the two became lovers. While artists such as Max Ernst fled Paris for the U.S., Picasso hung tough even though the Germans prohibited his art from being shown.
Two tea plants belonging to Unilever NV’s Kenyan unit suspended operations temporarily after dry weather lowered production of green leaves, the Daily Nation reported, citing Francis Kaptich, a technical director.