Picasso Paintings to Be Auctioned in Korea
Published April 16th, 2006
Five paintings by Pablo Picasso will be auctioned off next week, at a department store in Seoul, as was announced Sunday.
Hyundai Department Store at Samsong-dong, COEX, said it will put five oil paintings by Picasso on sale, during an exhibit of his works set to open at a trade center in southern Seoul on April 21-May 1.
The five works, including “Painter Paints on His Model’’ (1964) and “The Owl on a Chair’’ (1947), will be auctioned off at starting prices ranging from 1.7 billion won to 7.9 billion won (1.48 million-6.6 million euro), the company said. If successfully sold, the masterpieces by Picasso will set a new record for auction sales in South Korea.
The previous record was set by a white porcelain piece from the 17th-century Choson Kingdom of Korea. The piece sold for 1.62 billion won at Seoul Auction House last February.
The five pieces of art had previously been held by an individual collector in Milan, Italy, the department store said.
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