1932 Picasso Portrait of Young Mistress Going Up for Auction

A 1932 nude portrait by Picasso of his young lover and muse Marie-Therese Walter went on display this week at Sotheby's in Paris and will be auctioned off next month with an expected sale price of $19-$29 million. "La Lecture" or "Reading" was painted during Picasso's "lovestruck" period and depicts Marie-Therese sleeping in an armchair with her head back and an open book on her lap. "In the early 1930s he was very lyrically in love and reflected that in these gorgeous colors, and lovely compositions," said Philip Hook, Director of the Impressionist and Modern Picture Department at Sotheby's in London. "This period is just about the most desirable of all Picasso's (periods), certainly in market terms."

The painting will be the premier offering at next month's Impressionist and Modern Art sale in London.