Austrian businessman Rene Benko was forced to sell one of his most valuable paintings - The Embrace by Pablo Picasso - at a large loss after the collapse of his construction company Signa. This was reported by the local publication Der Standard.

. And already in November 2023, the painting, painted in 1969, was again put up for sale at Sotheby's auction. Its initial minimum price was set? at $20 million, however, due to low interest from buyers, the cost was repeatedly reduced.

As a result, the painting was sold for 11 million dollars (about 10.86 million euros), which means a loss of more than 7 million? Euro.

. The emergency sale occurred at the most inopportune moment,” the publication writes and notes that the Benko family is “happy with such a financial injection.”.

. It became the second most valuable work by the artist ever sold at auction..

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