Picasso Painting Fetches $35 Million at Art Basel

The global art market demonstrated its strength once again as a major Pablo Picasso painting sold for an impressive $35 million during the opening hours of Art Basel, one of the world’s most prestigious art fairs held annually in Switzerland.

The artwork, Le peintre et son modèle dans un paysage, was sold by the internationally renowned gallery Hauser & Wirth. The sale became one of the biggest highlights of this year’s event, attracting significant attention from collectors, investors, and art enthusiasts.

Art Basel 2026 has seen a strong focus on blue-chip artworks and masterpieces from classical modern artists. Leading galleries showcased works by some of the most influential names in art history, including Pablo Picasso, David Hockney, Louise Bourgeois, and Cy Twombly.

In addition to the record-breaking Picasso sale, Hauser & Wirth reported several other major transactions. A work by Cy Twombly sold for approximately $5 million, while a painting by Louise Bourgeois achieved a price of around $2.5 million. Gallery founder Iwan Wirth described the event as the strongest opening day in the gallery’s history.