Picasso sold for €29.7m

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An American private collector has bought Malaga born painter Pablo Picasso’s ‘La Lecture’ for €29.7m at a Sotheby’s auction in London. The picture was inspired by his lover Marie-Therese Walter and painted in 1932.

Sotheby’s had valued the painting between £12-18 million (€14-21 million).

In the end the masterpiece sold for £25 million during an auction that saw 42 other pieces of the Spanish painters and other surrealist works go under the hammer.

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