Pablo Picasso 'Women of Algiers' Sold For $179M, Breaks Auction Records

Pablo Picasso’s “Women of Algiers” originated in 1955, became the highest paid painting during Christie’s last auction on May 11, 2015 in New York.

Throughout the sale, titled “Looking Forward to the Past,” the auction house managed to sell Picasso’s piece for $179, 365,000 setting a world record for artwork at auction. The buyer elected to remain anonymous.

“Les femmes d’Alger” was inspired by Picasso’s fascination with French artist Eugene Delacroix and it is part of a 15-piece collection created between 1954 and 1955.

The London based auction house estimated the 1955 cubist oil "Les femmes d'Alger (Version 'O')" would sell for about $140 million, but several bidders competing via telephone drove the winning bid to $160 million, for a final price of $179,365,000 which included Christie’s 12% commission.