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Picasso painting sells for nearly $22M

June 22, 2011 at 5:13 PM   |   Comments

LONDON, June 22 (UPI) -- Pablo Picasso's "Jeune Fille Endormie," a 1935 painting seen only once before in public, has sold for nearly $22 million at a London auction, Christie's said.

The BBC said the portrait of the artist's lover Marie-Therese Walter was expected to sell for between $14 million and $20 million.

The piece was donated anonymously to the University of Sydney, with the stipulation the school use the money from its sale for scientific research.

The university's Dr. Michael Spence told the BBC it was a "very generous and far-sighted gift."

"We are grateful for their extraordinary generosity and delighted with the outcome of the auction," Spence said.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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