After six minutes of bidding in the saleroom and on the telephone, the work, which dates to 1932, went to an anonymous telephone bidder. Picasso's relationship with beloved muse Marie-Therese is one of the modern art world's most famous love stories.

Helena Newman, Chiarman of Sotheby's, said, "When Picasso first met (muse) Marie-Therese, she was 17. He saw her stepping out of the Metro by the (department store) Galerie-Lafayette in Paris and said 'I am Picasso and we will do great things together'. And she never heard of Picasso and so began their romance which gave this extraordinary output of wonderful paintings which is amongst his most desirable works."