Artwork could smash records

chibumga izuzu 10:33 - 04 May 2015

Pablo Picasso's 'The Women of Algiers,'

The Picasso's 'Women Of Algiers' could be become the most expensive painting ever sold at an auction as New York spring auction season approaches.

As New York's spring auction season prepares to kick off, Christie's auction house is also getting set to smash new world records with a Picasso painting worth $140 million and a Giacometti worth $130 million.

According to experts, the high prices are fueled by established and wealthy new buyers and the desire by collectors to own the best works.

Pablo Picasso's ',' depicts a scene from a harem, while Alberto Giacometti's 'man pointing' statue depicts a strong man holding up one hand and pointing with the other.

Both paintings will be up for sale when Christie's puts it on the auction on Tuesday, May 11.

"Those two works can set a world record. You don't have another chance to get them." said Loic Gouzer, senior vice president of Christie's.

Picasso created the painting in 1955, inspired by 19th-century French painter Eugene Delacroix, but as a homage to Henri Matisse, who died in November 1954.