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Picasso’s Women of Algiers has become the most expensive painting to sell at auction, going for $160m (£102.6m) at Christie’s in New York.

Eleven minutes of prolonged bidding from telephone buyers preceded the final sale – for much more than its pre-sale estimate of $140m.

The final price of $179.3m (£115m) includes commission of just over 12%.

The sale also featured Alberto Giacometti’s life-size sculpture Pointing Man, which set its own record.

It is now the most expensive sculpture sold at auction, after going for $141.3m (£90.6m). Both buyers chose to remain anonymous.

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