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A Picasso masterpiece unseen in public for 43 years has gone under the hammer at auctioneers Christie's for £8.1m.
Tete de Femme (Jacqueline) had been expected to fetch £3m-£4m at Christie's Impressionist and Modern Art Evening Sale in London. .
The painting, never offered at auction before, had remained in the same collection since 1981. .
Christie's would not reveal the identity of the purchaser of the 1963 portrait of the artist's second wife. .
Jacqueline was said to have had a short neck and the artist would often "humorously" exaggerate its size in portraits..
The auction included a number of masterpieces by Picasso, Renoir and Matisse. .
Kees van Dongen's La Gitane fetched £7.1m, Natalia Goncharova's Espagnole sold for £6.4m, while Henri Matisse's Nu aux jambes croisees went for £3.8m. .
A Christie's spokeswoman said: "It's been a very busy evening and many of the pieces have exceeded estimates."
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Russian billionaire Roman Abramovich bought 35 contemporary artworks for his luxury yacht, “Eclipse,” an art dealer revealed.
The purchases came through Terence Disdale, who designs the interiors of Abramovich’s yachts, according to Joseph Clarke, director of Millennium, which has its gallery in southwest England ... more
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The approach, known as "sparse coding", builds a virtual library of an artist's works and breaks them down into the simplest possible visual elements.
Verifiable works by that artist can be rebuilt using varying proportions of those simple elements, while imitators' works cannot ... more
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Premier and Minister for the Arts Anna Bligh today announced communities across Queensland will enjoy festivals, mentoring from professional artists and touring productions with the latest round of arts funding ... more
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The Russian art market in London bounced back from a four-year low in early December as wealthy Russian buyers, who dominate the market, regained confidence amid better economic activity in their homeland ... more
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Ukrainian billionaire, Victor Pinchuk has created a new international contemporary art prize for artists under 35 years old. The Future Generation Art Prize will be held every two years and the winner will receive $100,000 ... more
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A record-breaking auction in London saw two works of art, a Rembrandt and a Raphael, sell for almost £50m.
The drawing by Raphael, Head of a Muse, sold for £29 ... more
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The creator of a subtle and unashamedly beautiful fresco in gold leaf was the "shocked, surprised and stunned" winner of Britain's most prestigious UK art prize last night ... more
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Authorities in Italy say they have seized works of art belonging to, and concealed by, the convicted founder of Italian firm Parmalat, Calisto Tanzi.
The 19 paintings and drawings, including works by Picasso, Monet and Van Gogh, are worth more than 100m euros (£90m), financial police said ... more
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Finland's biggest art prize, the Ars Fennica, has been awarded to multimedia artist Jussi Kivi, aged 50. He was handed the award at Helsinki's Kiasma Museum of Contemporary Art on Thursday afternoon ... more
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