The Second-Most Expensive Painting Sold Wednesday – And Its $7.5M Rip

Picasso’s Woman Seated in a Chair, which sold for $29.2 million at the same Sotheby’s auction where Munch’s The Scream sold for $120 million, suffered a tear while at a New York gallery in 2008 – damage for which the then-owner’s insurance company paid out $7.5 million. (Sotheby’s says the painting is now in “very good condition.”)