YEREVAN, MARCH 1, ARMENPRESS.  "Femme au Beret et a la Robe Quadrillee (Marie-Therese Walter)", a 1937 painting by Pablo Picasso, has fetched £50 million (S$91.2 million) at a London auction in Sotheby’s, Business Times reported.

The painting depicts Picasso’s muse Marie-Therese Walter with future lover Dora Maar emerging from the shadows.

"It's an incredibly important museum quality picture," James Mackie, director of the impressionist and modern art department at Sotheby's, told AFP last week.

"It comes from a key era in Picasso's career, 1937, when he makes the great painting 'Guernica'," he added.

English –translator/editor: Stepan Kocharyan