DHAKA: A Picasso masterpiece and a Giacometti statue smashed world records Monday for the most expensive art sold at auction, fetching more than US$179 million and US$141 million respectively in New York.

Pablo Picasso oil painting, ‘The Women of Algiers (Version 0)’, sold for US$179,365,000 after 11 and a half minutes of furious bidding from four to five prospective buyers at Christie’s, where two auction rooms were packed.

It was the highest price for any work of art sold at auction, Christie’s said, but fell short of the US$300 million reportedly paid privately by Qatar for Paul Gauguin’s painting ‘When Will You Marry?’ in February.

Applause erupted when auctioneer and global president of Christie’s Jussi Pylkkanen finalised the Picasso sale having cut through the frenzied excitement of the bidding war with laughter and jokes, reports The Straits Times.

BDST: 1240 HRS, MAY 12, 2015
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