Picasso painting goes for $106 million

May 4, 2010 10:52:08 PM PDT
A Pablo Picasso painting sold for $106 million -- a record for a work of art sold at auction.

It is a 1932 portrait of Picasso's blonde mistress.

Experts say the sale shows growing confidence in the art market.

Bidding for the piece lasted eight minutes and six seconds; there were six bidders in all.

There is no word on the identity of the winning bidder.