Page last updated at 15:49 GMT, Thursday, 7 May 2009 16:49 UK

Picasso works snapped up at sale

Mousquetaire a la pipe, by artist Pablo Picasso
Picasso painted Musketeer with pipe in 1968

Two paintings by Pablo Picasso have sold at auction in New York, just 24 hours after another of his works failed to sell.

His portrait of a musketeer smoking a pipe was sold for $14.6m (£9.7m), while another painting, A Woman with a Hat, fetched $7.7m (£5.1m).

Lots at the Christie's auction sold for a combined total of $103m (£68.65m).

At a rival Sotheby's sale earlier this week, Picasso's portrait of his daughter Maya went unsold.

Femme au chapeau, by Pablo Picasso
A Woman with a Hat was sold by Julian Schnabel

The Daughter Of The Artist At Two-and-a-half Years With A Boat had been expected to fetch up to $24m (£16m).

A Woman with a Hat was sold on behalf of film director Julian Schnabel, and went for just under its estimate.

Schnabel, who was nominated for an Oscar for The Diving Bell and the Butterfly, bought the painting from Picasso's grandson, and it has hung in his New York home and studio since 1989.

Picasso selected the canvas for a solo exhibition in Avignon, France, in 1973, but he died a month before it opened.

Marc Porter, president of Christie's Americas, said he was pleased with the evening's sale.

"The sale demonstrates that auction is very much the arena in which to sell works that are fresh to the market," he said.

"Collectors remain hungry for high-quality works that are reasonably estimated and finely presented."

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