Picasso’s work sells for over Rs 24 cr

Pablo Picasso’s Portrait of Angel Fernandez de Soto, a work from the painter’s ‘blue period,’ was sold for nearly $52 million (Rs 24,068,50,264) at a London auction earlier this week.

Pablo Picasso’s

HT Image

Portrait of Angel Fernandez de Soto

, a work from the painter’s ‘blue period,’ was sold for nearly $52 million (Rs 24,068,50,264) at a London auction earlier this week. The sale price at the Christie’s auction was at the lower end of estimates.

And in a further sign of a cautious art market, one of Claude Monet’s famous

Water Lilies

paintings failed to sell. The Picasso was sold by Andrew Lloyd-Webber to benefit his charitable foundation.