The artist's portrait of Marie-Therese Walter, known as his 'golden muse', sold for £49.8 million at Sotheby's London on Wednesday evening
A Picasso artwork has sold for nearly £50 million - the highest auction price for any painting ever sold in Europe in pounds.
The artist's portrait of Marie-Therese Walter, known as his 'golden muse', sold for £49.8 million at Sotheby's London on Wednesday evening.
The 1937 painting has never been sold on the market before, having previously been part of a private collection.
Femme au beret et a la robe quadrillee was painted in the same year as the artist's famous Guernica.
After global interest four people battled it out for the 22-inch high artwork and it finally sold for £49.8m, making it the most expensive painting ever auctioned in the UK.
It was bought by Gurr Johns, an art acquisition firm, who also forked out £22.8m on two other pieces