Called “Jeune Fille Endormie,” the painting was given to the university in 2010 by an anonymous donor on the condition that it be sold and the proceeds used to promote scientific research. Painted in 1935 and showing Marie-Therese asleep, the expressionist work has rarely been seen in public.
According to Sydney University, it was originally acquired by Walter P Chrysler Jr., son of the founder of Chrysler Corp., soon after it was painted and changed hands only once more up until last year. Although it was shown in public a few times in the U.S. between 1939 and 1941, it has been held in a private collection ever since.
“This is an absolute jewel of a painting by one of the great artistic geniuses of Western art and we are pleased to be able to support the University of Sydney by offering it at auction,” Giovanna Bertazzoni, director and head of Impressionist and Modern Art at Christie’s London, said in a statement.
Another portrait of Marie-Thérèse, “Nude, Green Leaves and Bust,” was sold at Christie’s in New York last year for US$106.5 million, a record price for a work of art at auction.
“Marie-Thérèse is now almost the ‘mythical lover’ of the artist and there is a special attraction for this series by Picasso,” Ms. Bertazzoni said.
Dr. Michael Spence, vice chancellor of the University of Sydney, said proceeds from the sale would “create multiple endowed chairs across several disciplines within a new multidisciplinary university center” dedicated to research on obesity, diabetes and cardiovascular disease.
Christie’s will auction Picasso’s masterpiece at its evening sale of Impressionist and Modern Art on June 21 in London.
