Sold in November 2013 for a staggering $142.4 million, Francis Bacon’s Three Studies of Lucian Freud used to be the most expensive artwork sold in an auction.
Now, the record has been broken by none other than Pablo Picasso, whose Women of Algiers reached $179 million in a New York auction at Christie’s.
The buyers of the art chose to remain anonymous, despite breaking a record that might prove to be unbeatable in years to come.
Reuters first expected the Picasso to be sold at around $155 million.
The Guardian describes the painting as “a vibrant, multi-hued painting featuring a scantily attired woman amid smaller nudes.”
Women of Algiers was once owned by Victor and Sally Ganz, American art collectors. The painting is said to have been inspired by the renowned artist’s adoration for Eugène Delacroix, a French artist during the 19th century.
The painting is also part of a 15-work series, each piece accompanied with letters A to O.
The work that has just broken the record is Version O.
“I don’t really see an end to it, unless interest rates drop sharply, which I don’t see happening in the near future,” dealer Richard Feigen said, as quoted by the Associated Press, when asked about the high sales prices of artworks.