Picasso’s Unseen Portrait of His Lover Up for Auction... Estimated at 13.1 Billion Won

Previously Unseen Portrait of Lover Dora Maar Unveiled
"Never Exhibited Outside the Studio, Exceptionally Special"
Picasso the Prolific: Auction Sales Reached 310 Billion Won Last Year

A previously undisclosed portrait by the master Pablo Picasso, depicting one of his lovers, has been put up for auction. On September 18 (local time), Yonhap News quoted AFP as reporting that the Paris Drouot auction house unveiled a portrait titled "Bust of a Woman with a Floral Hat" (80×60 cm, oil on canvas) that day.

Bust of a Woman with a Floral Hat by Picasso. Drouot Instagram

The model for this piece, believed to have been created in July 1943, is Dora Maar-Picasso’s lover, as well as a French photographer, painter, and poet. Maar was one of Picasso’s most significant muses, inspiring as many as 60 works. After being purchased by a French collector in August 1944, the painting was inherited by the current owner, the collector’s grandson. The present owner reportedly decided to auction the piece as part of settling the inherited estate.

Picasso expert Agnes Sevestre-Barbe, who attended the unveiling, commented, “This work has never been made public and, apart from the Spanish master’s studio in Paris, has never been exhibited.” She added, “It is extremely special and will serve as a milestone in both art history and Picasso’s legacy.”

The estimated price for the piece is 8 million euros (approximately 13.1 billion won), though the actual auction price could go even higher. The auction is scheduled for October 24.

The auctioneer is handling a Picasso artwork. Drouot Instagram

The highest price ever paid for a Picasso work was for the 1955 oil painting "Les Femmes d’Alger (Version O)," which sold for 179.4 million dollars (about 205 billion won at the time) at Christie’s in New York in 2015. The painting features nude women freely arranged in Picasso’s signature Cubist style.

Picasso is recognized in the Guinness World Records as the most prolific artist in history, having produced 13,500 paintings, 34,000 illustrations, and 100,000 prints, with his total output, including sculptures and ceramics, reaching 200,000 pieces. His works remain highly sought after in the auction market. According to consulting firm Artprice, auction sales of Picasso’s works amounted to 597 million dollars (about 805.9 billion won) in 2023 and 223 million dollars (about 312.2 billion won) in 2024. In May, his 1969 painting "Homme Assis" was sold for 15.1 million dollars (about 2.11 billion won) at Sotheby’s in New York.