Picasso’s Timeless Watch and the Art Market’s Quiet Comeback at Sotheby’s

A Picasso painting featuring a woman and her watch quietly rewrote auction history, fetching $139.4 million at Sotheby’s in November 2023. This wasn’t just another blockbuster sale—it marked the highest price for any artwork at auction that year and became Picasso’s second most expensive piece ever sold under the hammer. The event, dedicated to the collection of Emily Fisher Landau, didn’t just spotlight Picasso. It set a new record for Agnes Martin, whose minimalist Grey Stone II soared past expectations at $18.7 million. The evening’s total—$406.4 million—became the most valuable auction ever centered on a woman collector. Other modern masters joined the high-stakes parade: Jasper Johns’s iconic Flags, Ed Ruscha’s witty wordplay, and Cy Twombly’s energetic scribbles all drew fierce bidding, each setting or nearing personal bests. In a market often described as cautious, these results hint at a quiet resilience among collectors chasing blue-chip legends. Sometimes, a single evening can reset the clock on what’s possible in the world of art. #ArtAuctions #Picasso #ModernArt #Culture