Picasso antique painting sells for more than £34m

The Andrew Lloyd Webber Foundation has sold the Angel de Fernandez de Soto artwork by Pablo Picasso for more than £34 million.

It was offered as part of a Christie's sale and may have caught the attention of those looking to put antique paintings up for grabs.

Lord Lloyd-Webber stated: "I am pleased that my foundation has raised over £30 million, especially in such austere times."

He went on to add: "This is a significant amount to devote to the Foundation's passions."

In addition, Mark Wordsworth, chairman of the group, claimed that it will consider how to use the funds as a means of promoting the UK's arts, culture and heritage.

Also, Christie's is set to sell an oil-on-canvas Martin Kippenberger painting as part of its Post War and Contemporary Art Day Auction on July 1st.

It is dated from 1988 and has a price estimate of between £400,000 and £600,000.

Posted by Lisa Marriott