It shows Picasso 's muse and mistress , Marie-Therese Walter . ` ` Picasso , Palm Leaves and Bust '' sold for $ 106,482,500 , the most ever paid for single work of art . The 1932 painting shows Picasso 's wife and mistress , Marie - Therese Picasso . Previous record was $ 1 million for Alberto Giacometti 's ` ` L'Homme Qui Marche I , ' ''
` ` Picasso , Palm Leaves and Bust '' sold for $ 106,482,500 , the most ever paid for single work of art . The 1932 painting shows Picasso 's wife and mistress , Marie - Therese Picasso . Previous record was $ 1 million for Alberto Giacometti 's ` ` L'Homme Qui Marche I , ' ''