On November 16, Sotheby's offered an important self-portrait by Mexican artist Frida Kahlo as part of its Modern Evening Auction in New York. With Diego y yo ("Diego and I") from 1949, Kahlo not only reinterpreted the Renaissance portrait in a unique way, but also processed her often nerve-wracking relationship with her husband Diego Rivera.
Related: Will This Portrait Set a New Record for Frida Kahlo?
The portrait first appeared in the auction room in 1990 at Sotheby's where it was auctioned for $1.4 million, setting a new auction record not only for Kahlo, but also for a Latin American artist.
Related: 10 Artist Couples You Should Know
Since then, prices for Kahlo's paintings have soared, reaching a record high of $8 million in the 2016 auction of Dos desnudos en el bosque (La tierra misma). However, two years later, she had to relinquish the title of Latin America's most expensive artist to her husband Diego Rivera, whose paintings have repeatedly achieved seven-figure prices over the past 30 years. He set the Latin American artist record with the sale of The Rivals, which found a new owner for $9.7 million in 2018.
Related: The True Story Behind Frida Kahlo's Iconic Style
But all of these figures are overshadowed by Frida Kahlo's new record. Diego y yo was offered with an estimate of $30-50 million and was hammered for $34.8 million. This is the second time in 31 years that Diego y yo has set a new record for both its artist and an artist from Latin America.
Related: The 15 Most Expensive Female Artists
According to Sotheby's, the buyer of Frida Kahlo's significant self-portrait is the Argentine entrepreneur and collector Eduardo Costantini, a great patron of Latin American art and founder of the Museo de Arte Latinoamericano de Buenos Aires (MALBA).
