Picasso's muse as sea creature will it break $100m at Sotheby's New York sale?

The art world is abuzz with anticipation as Sotheby's New York prepares to auction off one of Pablo Picasso's most intriguing works, Femme nue couchée (1932). The painting, set to go under the hammer next month at the Modern evening auction on May 17, is "poised to achieve in excess of $60m," according to the auction house. This masterpiece portrays the artist's teenage lover and "golden muse," Marie-Thérèse Walter, reimagined as a surreal sea creature with fin-like limbs and a distorted head.

The upcoming sale is set to be a litmus test for the Picasso market, which has seen extraordinary prices in recent years. The top five Picasso works at auction have all fetched more than $100 million, setting a high bar for Femme nue couchée. The most recent work to break through this price barrier was another 1932 painting, Femme assise près d'une fenêtre (Marie-Thérèse), which also depicts Walter. This painting sold last May at Christie's New York for a staggering $103.4 million (including fees).

The year 1932 is widely regarded as Picasso's 'annus mirabilis' or 'year of wonders.' It was a period of incredible productivity and creativity for the artist, largely inspired by his passionate affair with Marie-Thérèse Walter. Picasso met the 17-year-old Walter in 1927 when he was 45 and still married to his first wife, Olga Khokhlova. Their clandestine relationship would go on to inspire some of his most sought-after sculptures, drawings, and canvases.

Femme nue couchée stands out even among Picasso's prolific output from this period. The painting's unusual depiction of Walter as a sea creature is thought to have been inspired by Picasso's fascination with her prowess as a swimmer. Interestingly, Picasso himself could not swim, which may have added to his admiration of Walter's aquatic abilities. This unique portrayal showcases Picasso's innovative approach to the human form and his ability to blend reality with imagination.

The painting is notable for its pioneering approach to the nude figure. As Sotheby's statement explains, Picasso was breaking new ground "in the history of the nude figure with his depiction of her reclining in a highly abstracted space, highlighting her biomorphic figure with touches of fertility, sexuality and grace." This combination of elements makes Femme nue couchée a prime example of Picasso's artistic evolution and his ongoing exploration of the human form.

The provenance of the painting adds to its allure. As Helena Newman, Sotheby's Worldwide head of Impressionist and Modern art, points out, "Femme nue couchée is a ground-breaking, extraordinarily sensual work that remained within the artist's estate for decades before its acquisition directly from the family of the artist." The current owner acquired the work in 2008, according to the item provenance, meaning this sale represents a rare opportunity for collectors to acquire a piece with such a direct link to Picasso himself.

The painting's appearance at auction is particularly significant given its recent exhibition history. It was one of the star highlights of Tate Modern's world-class exhibition in 2018, which was devoted to 1932 as a pivotal year for Picasso. This exposure has likely increased the painting's profile and could contribute to its performance at auction.

As the art market continues to show resilience in the face of global economic uncertainties, the sale of Femme nue couchée will be closely watched by collectors, investors, and art enthusiasts alike. If it achieves or exceeds its estimated price, it will not only affirm the enduring value of Picasso's work but also signal continued strength in the high-end art market.

The painting's unique blend of surrealism and eroticism, coupled with its important place in Picasso's oeuvre, makes it a particularly desirable piece. Its sale could potentially set a new record for Picasso's works from this period, further cementing 1932 as a golden year in the artist's career.

As the auction date approaches, all eyes will be on Sotheby's New York. Whether Femme nue couchée breaks the $100 million barrier or not, its sale is sure to be a highlight of the art market calendar, offering a rare glimpse into the private world of one of the 20th century's most influential artists and his enduring muse.