The painting by Pablo Picasso has set a new world record for the most expensive work of art. The amazing art piece was sold at an auction and fetched $106 m (£70m). The 1932 picture of Nude, Green Leaves and Bust of Spanish artist was sold in New York at Christie's auction house.
Since the 1950s, this Picasso painting belonged to the late Los Angeles collectors Frances and Sidney Brody. An anonymous telephone bidder made the winning bid and with this auction, the record held by Giacometti's Walking Man I, which sold in February for $104.3m has been broken.
Another Pablo Picasso painting, Garcon a la Pipe, which sold for $104.1m, previously held the record of the most expensive painting. The expected selling amount for Nude, Green Leaves and Bust was $70m-$90m, but the record breaking amount for the painting indicates the recovery of art market from the global financial crisis.