Picasso, Esherick among modern masters lifting auction results

8 February 2011

Pablo Picasso's 1932 painting, La Lecture, depicting Marie-Therese Walter, has sold for 25.2 million pounds ($40.7 million) at a Sotheby's London auction on Feb. 8.

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A Wharton Esherick oak, leather, wrought iron chair brought $100,650 at a Rago's auction.

A Pablo Picasso painting of his mistress Marie-Therese Walter, titled "La Lecture," more than doubled its low estimate to fetch 25.2 million pounds ($40.7 million) at a Sotheby's auction in London on Tuesday.

The Picasso edged up the firm's modern and impressionist art auction total to 68.8 million pounds ($111 million), including the buyers' premium, and fell within presale estimates. Christie's holds its first sales in this series on Wed.

In Lambertville, New Jersey, Rago Arts and Auction Center's 20th C. Design sale on Feb. 4-5 brought in a total $4.3 million.

Wharton Esherick pieces dominated the top lot spots. Of note, an Esherick oak, leather, wrought iron chair garnered $100,650. His sandstone sculpture "Andante" fetched $67,100 and an Esherick carved oak and cherry tiered stand netted $45,750.

Read more at Washington Post

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