video transcript

Sotheby's in London hopes the hammer price for this Picasso will be a good omen for a profitable auction season. And at 45 million US dollars 'Femme Assise Près D'une Fenêtre' thrilled Sotheby's art specialist, Helena Newman. SOUNDBITE: Helena Newman, Sotheby's, saying (English): "We were delighted with the result of the beautiful painting by Pablo Picasso of Marie-Therese from 1932. It sold 28.6 million pounds which is 45 million dollars tonight. It was the highest price of the auction tonight and a great result for such a beautiful painting of Picasso's golden muse". Prices for the most sought-after artworks have risen in recent years despite the effects of the 2008 global recession. And though Picasso's painting was the top lot of the evening, Austrian artist Egon Schiele arguably stole the limelight with a series of works on paper. The total for the impressionist and modern art sale was 121 million pounds or around 190 million US dollars, the second highest total from an equivalent sale in London.