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November 08, 2006

Christie's Halts Sale of Picasso by Lloyd Webber

posted by MR WAVETHEORY at 11/08/2006 05:35:00 PM
Who owns the $60 million Picasso? That's the question that is being asked.

Christie's International and the Andrew Lloyd Webber Art Foundation withdrew Pablo Picasso's ``Portrait de Angel Fernandez de Soto'' from tonight's impressionist and modern art auction in New York after a German collector said it was forcibly sold to the Nazis.

Christie's had estimated that the 1903 painting would sell for $40 million to $60 million. The auction may still be the biggest of all time, with a high presale estimate of more than $400 million.

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