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Picasso sells for record
By Associated Press
Published May 6, 2004
NEW YORK - Pablo Picasso's 1905 painting Boy with a Pipe sold for $104-million Wednesday at Sotheby's, shattering the record for an auctioned painting.
The total includes the auction price of $93-million plus the auction house's commission of about $11-million.
The previous record was set by Vincent van Gogh's 1890 Portrait of Doctor Gachet, which was sold to a Japanese billionaire for $82.5-million in 1990 at Christie's, including the auction house's premium.
Sotheby's did not immediately say who bought Boy with a Pipe.
A 24-year-old Picasso painted Boy with a Pipe soon after settling in Montmartre, France.
The painting was part of a collection of major works by Picasso, Edouard Manet, Edgar Degas and others that headlined an auction of 34 paintings from a charitable foundation created by philanthropist Betsey Whitney. The collection had a presale estimate of more than $140-million.
[Last modified May 6, 2004, 01:00:39]
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