A Picasso Returned to Jewish Heirs by the National Gallery Goes on Sale for $10 Million

A Pablo Picasso pastel drawing sold in desperation by a German Jewish banker before World War II is returning to the market for at least $10 million. The banker’s descendants, who recently won restitution of the work from the National Gallery of Art in Washington, have asked New York dealer Larry Gagosian to sell “Head of a Woman,” a pensive portrait Picasso made in 1903.

Mr. Gagosian said that the heirs of Paul von Mendelssohn-Bartholdy, the Berlin banker who bought the drawing around 1912, approached his gallery last September…

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