DUBAI: A masterpiece by Pablo Picasso is heading to the UAE for its first exhibition outside the US in 50 years, marking the highest value painting to ever be brought to the Middle East by an auction house.

Picasso’s 1932 portrait of Marie-Thérèse Walter called "Femme á la montre" holds an estimate in excess of $120 million.

The painting will be on show at Sotheby’s Dubai in DIFC on Sept. 25 and 26.

“It is a true privilege to have a masterpiece of this significance, by one of the world’s most well-known and well-loved artists, unveiled in the UAE as the first stop on its world tour. One of the greatest works of modern art, we have ever brought to auction, it is the perfect artwork to showcase and continue our commitment to bringing the best of art and culture to the region,” Katia Nounou Boueiz, head of Sotheby’s UAE, said in a released statement.

“In 2020, we exhibited a painting by Botticelli, which was estimated in excess of $80 million, and at the time made headlines as the highest value painting ever to be brought to the Middle East by an auction house. Since then, we have exhibited some wonderful works by the likes of Boetti, Kandinsky, Warhol and more. The appearance of this Picasso on our walls in Dubai will now overtake the record set by the Botticelli, and also marks the first time a painting of this calibre by the artist has ever been exhibited anywhere in the UAE.”