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Hot Market in Picasso Mistress May See $35 Million at Sotheby’s

A 1934 Pablo Picasso painting of his mistress may fetch as much as $35 million at Sotheby’s in New York next month as auction houses aim to capitalize on buyers’ appetite for iconic 20th-century art.

“Femmes Lisant (Deux Personnages)” depicts Marie-Therese Walter as a blue-faced, supple figure reading a book with another woman. It’s the top lot in Sotheby’s Impressionist and modern art sale on May 3. The evening auction is expected to tally more than $150 million, the New York-based company said.