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Picasso auction

( Updated: 2013-11-06 09:58

A Chinese real estate company bought a picture by the late Spanish artist Pablo Picasso for 172 million yuan.

The picture, Two Children, made by Picasso in 1950, was auctioned at Christie's in New York on Tuesday morning.

The Wanda Group, a real estate developer based in Dalian of Northeast China's Liaoning province, won the bid after fierce competition with other buyers, Chengdu Business News reported.

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