In this artwork, how is the Record sale at auction discussed?
The 1895 pastel-on-board version of the work, owned by Norwegian businessman Petter Olsen, sold at Sotheby's in London for a record price of nearly US$120 million at auction on 2 May 2012. The bidding started at $40 million and lasted for over 12 minutes when American businessman Leon Black by phone gave the final offer of US$119,922,500, including the buyer's premium. Sotheby's described the work as "the most colorful and vibrant" of the four versions Munch painted, noting also his hand-colouring of the frame on which he inscribed his poem which detailed the picture's inspiration. After the sale, Sotheby's auctioneer Tobias Meyer said the work was "worth every penny", adding: "It is one of the great icons of art in the world and whoever bought it should be congratulated."The previous record for the most expensive work of art sold at auction had been held by Picasso's Nude, Green Leaves and Bust, which went for US$106.5 million at Christie's two years prior on 4 May 2010. As of 2018, the pastel remains the fourth highest nominal price paid for a painting at auction. The work had a presale estimate of $80 million, the biggest presale estimate ever set by Sotheby's.
Leon Black paint US$120 million at auction Christie's Nude, Green Leaves and Bust Tobias Meyer pastel Petter Olsen fourth highest nominal price paid for a painting Sotheby's buyer's premium