A painting by Pablo Picasso and a sculpture by Alberto Giacometti have set new records as the most expensive works ever sold at auction, underscoring rising demand for Impressionist and modern art.
Picasso’s “Les Femmes d’Alger (Version O)” sold for $179.4m on Monday night at Christie’s in New York, while Giacometti’s life-size “L’homme au doigt” sold for $141.3m. The buyers elected to remain anonymous.
Prices and demand for art works have been soaring to new heights, driven in large part by the growing ranks of wealthy collectors across the world, especially in Asia, mainly led by a new breed of ultra-wealthy Chinese.
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