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Picasso valued at $140M heading to NYC auction

Picasso's Women of Algiers Version 'O' is up for auction at Christie's.
Emile Wamsteker | AP

Christie's auction house has announced it will offer a 1955 masterpiece by Pablo Picasso for an estimated $140 million.

"Women of Algiers (Version O)" will hit the auction block on May 11.

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The vibrantly colorful work features a scantily attired female amid smaller nudes. It is part of a 15-work series Picasso created between 1954 and 1955.

It'll be offered with a group of two dozen other major 20th century works in a stand-alone sale called "Looking Forward to the Past."

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Christie's didn't reveal the seller, but said the collector acquired the painting at Christie's in 1997 for $31.9 million.

The current record for any artwork sold at auction is held by Francis Bacon's triptych "Three Studies of Lucian Freud." It sold at Christie's for $142.4 million in 2013.

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