Wednesday, October 29, 2008
Picasso Harlequin Withdrawn from Auction
A painting by Pablo Picasso has been withdrawn from a Sotheby's Impressionist and Modern art auction in New York. The painting, which is a 1909 work titled "Arlequin", was expected to fetch more than $30 million at auction. Sotheby's says that the owners withdrew the painting for personal reasons. However, critics have suggested that it was withdrawn due to the recent financial crisis that has shaken the foundation of the art market. The harlequin painting was owned by the late Italian born American surrealist painter Enrico Donati. Donati paid $12,000 for the painting in the 1940s. Is this a sign of what is to come?
Take care, Stay true,