Picasso painting fetches $37M at auction

Pablo Picasso's "Guitar on a Table" painting sold for $37.1 million at auction.

The painting was on display for 30 years at the New York Museum of Modern Art.

It previously was in the private collection of CBS founder William S. Paley. The painting was lent to the Museum of Modern Art after Paley died in 1990, and now the museum is selling long-lent pieces to fund an expansion.

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