FOLLOWING the confidential settlement made between The Andrew Lloyd Webber Art Foundation and the heirs of Paul von Mendelssohn-Bartholdy, Picasso’s 1903 portrait of his friend Angel Fernandez de Soto will be offered for sale at Christie’s in London on June 23 with an estimate of £30-40m.
The picture known as The Absinthe Drinker, was withdrawn from sale in 2006 just days before it was due to be offered by Christie's New York with an estimate of $40m-60m after the heirs issued a restitution claim.
The Foundation originally bought the painting at Sotheby's New York in 1995 for $26.5m.
