Written by Ashlie Grovesner Wednesday, 27 April 2011 23:16

Mystery Donor Gives University of Sydney Painting by Pablo Picasso

Sidney, AU - A MYSTERY donor based in the US has given a Pablo Picasso painting worth up to $18 million to Australia's University of Sydney - on the condition it is sold to fund scientific research, officials said.  Jeune Fille Endormie, which translates as Young Girl Asleep, is a portrait of the famous Spanish artist's lover Marie-Therese Walter. Dating from 1935, it is considered a significant work from a stage of Picasso's career when he was painting many portraits of the much younger woman, according to Australian public broadcaster the ABC.

It is set to be auctioned in London on June 21 at Christie's, which estimates it will fetch between STG9 million ($13.8 million) and STG12 million ($18.4 million) - most of which will help fund the university's new Centre for Obesity Diabetes and Cardiovascular Disease.

Giovanna Bertazzoni, director of impressionist and modern art at the auction house, said she expected keen interest from collectors in Asia, the Middle East and Russia, as well as Europe and the United States.

"This is an absolute jewel of a painting by one of the great artistic geniuses of Western art and we are pleased to be able to support the University of Sydney by offering it at auction," she said.

University vice-chancellor Michael Spence said the donor - who wishes to remain anonymous - had flown to Sydney to present the painting, calling it "an extraordinary act of generosity" which recognises the university's "international standing and reputation".

Picasso painted a number of portraits of Walter, who he met in Paris in 1927, while she was 17 and he was 45. At the time he was married to Olga Khoklova, who left him when she learned of his affair with the teenager.

Last year, a 1932 portrait of Marie-Therese Walter by Picasso, Nu au Plateau de Sculpteur (Nude, Green Leaves and Bust), was bought by an anonymous bidder for a world record US$106.5 million dollars.

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