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In 1905, at the age of 24, Pablo Picasso painted "Boy with a Pipe" soon after settling in Montmartre, France. It is an oil-on-canvas painting, which depicts a local boy who regularly visited Picasso's Montmartre studio, holding a pipe in his left hand and wearing a garland of flowers.
John Hay and Betsey Whitney bought the painting in 1950 for $30,000. It was sold on May 5, 2004, for $104,168,000 at Sotheby's, shattering the record for an auctioned painting. The total includes the auction price of $93 million plus the auction house's commission of about $11 million. The previous record was set by Vincent van Gogh's "Portrait of Doctor Gachet" (1890), which was sold to a Japanese billionaire for $82.5 million in 1990.
The previous highest-selling Picasso piece was "Woman with Crossed Arms," a Blue Period painting done in 1901 and 1902, which sold for more than $55 million in November 2000 at Christie's. It was the fifth-highest auction price paid for a work of art.
Last updated: May 05, 2007.




