A rediscovered masterpiece by Pablo Picasso, a 1943 portrait of his muse and former companion Dora Maar, has sold for €32 million (including fees) at public auction in Paris. The winning bidder was David Nahmad, the Monaco-based art dealer and one of the world’s foremost collectors of Picasso’s work.
The painting, unseen by the public until now, went under the hammer at Hôtel Drouot on Friday, October 24, and fetched €27 million before fees — well above initial estimates. The final price, after buyer’s premiums, brought the total to €32 million, reaffirming Picasso’s enduring dominance in the global art market.
Painted during one of the artist’s most turbulent periods in 1943, the portrait captures Dora Maar — the photographer and painter who was both Picasso’s lover and muse throughout the late 1930s and early 1940s. While the piece was known to art historians from archival photographs by Brassaï, a close friend of Picasso, its actual colours and composition had remained unseen for more than 80 years.
The work resurfaced only 18 months ago, discovered during an inheritance inventory. Its sale drew international attention from collectors and institutions alike.
David Nahmad, who resides in Monaco with his family, is widely regarded as the world’s most powerful private art dealer. His vast collection includes hundreds of works by Picasso, alongside masterpieces by Monet, Matisse, and Modigliani. Nahmad’s acquisition of Dora Maar cements his reputation as the preeminent custodian of the artist’s legacy.
