Chris , Thursday, June 19th, 2008

Every once and a while a famous painters work comes up for auction. Maybe it goes for $100m, $25m or sometimes just $6.9m as did a work by Pablo Picasso recently.

The 1954 painting called Sylvette, just sold in Australia for $6.9m setting a record in the country. The painting was inspired by a 17 year old neighbor of Picasso’s in the south of France, and painted by Picasso when he was 73. The seller scored nicely, as the painting was originally bought for $4.6m just 2 years ago. Will it stay in Australia? Most likely not, it was scooped up by an anonymous overseas phone bidder.

Sure is super exciting when works come out of dusty attics and put up on the auction block getting appreciated all over again.