Pablo Picasso's "Women of Algiers (Version O)," auctioned at Christie's in New York City on May 11, 2015.
Courtesy of Christie's and the Estate of Pablo Picasso/Artists Rights Society (ARS)/AP
A Picasso painting became the most expensive work of art ever sold at auction on Monday, going for more than $179 million.
Christie’s said “Women of Algiers (Version O)” sold for $179,365,000. That figure, which the Associated Press reports to include the auction house’s premium, surpasses a Francis Bacon work called “Three Studies of Lucian Freud” that held the top spot, also selling at Christie’s for $142.4 million in 2013.
Picasso painted the work as part of a 15-painting series (versions A through O) created in 1954 and 1955, inspired by Eugène Delacroix’s 1834 “Women of Algiers.” Industry experts say art world prices are staying high as collectors see these top works as strong and lasting investments.
More Must-Reads From TIME
- In Photos: How Wildfire Smoke Impacted Cities
- How Antitrust Laws Could Kill the PGA-LIV Golf Merger
- Teens Are Taking Wegovy for Weight Loss
- Prince Harry Breaks Royal Convention to Testify in Court
- Elliot Page: Embracing My Trans Identity Saved Me
- How a Texas High Jumper Has Earned Nearly $1 Million
- The Best TV Shows of 2023 So Far
- 7 Ways to Get Better at Small Talk
