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LONDON, Jul 1, 2006 (UPI via COMTEX) -- Composer Andrew Lloyd Webber plans to sell a Pablo Picasso painting for millions and give the money to his favorite causes, The Telegraph reports.
The painting, "The Absinthe Drinker" or "Angel Fernandez de Soto," may raise 30 million pounds ($55.45 million USD) at auction, the report said. The painting is from the artist's Blue Period (1902-04), and is considered to be his most valuable work.
The painting is actually owned by Lloyd Webber's charity foundation, and the composer will not benefit financially from its sale. The proceeds will go to music and theater causes, The Telegraph said.
The portrait will go under the gavel at Christie's in New York in November.
Lloyd Webber's decision to sell the work was driven by rising art prices. The newspaper said the painting could break the world auction record of 38.4 million pounds (almost $71 million USD) paid for a Picasso Blue Period work six years ago.
URL: www.upi.com Copyright 2006 by United Press International
