A major painting by Pablo Picasso depicting Marie-Thérèse Walter, the woman who transformed both Picasso's life and his art, has just sold at Sotheby's for £25,241,250 / $40,711,612 / EUR29,744,296 - more than doubling the low estimate of £12 million. ©London News pictures...31.01.2011. Picasso's Portrait of his mistress and muse Marie-Therese, from 1932 is expected to raise 12 - 18million. Highlights of upcoming Sotheby's sales of impressionist and modern art and contemporary art. Works on show include a Picasso portrait of his mistress and muse Marie-Therese, from 1932 which is estimated to fetch £12 to £18 million, a private commission by Marc Chagall - never before seen on the market - estimated to fetch in excess of £10m and a Hockney painting estimated at £1 to £1.5m. . Picture Credit should read Stephen Simpson/LNP
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