One of Pablo Picasso's masterpieces, "Woman with a Watch," was sold at auction for $139.3 million by Sotheby's in New York, the second-highest price ever achieved for the artist.

• The 1932 painting depicts one of the Spanish artist's companions and muses, the French painter Marie-Therese Walter, and had been valued at over $120 million before going on the block, according to Sotheby's.
• The painting is part of Sotheby's special sale this week of the collection of the wealthy New York patron of the arts Emily Fisher Landau, who died this year at the age of 102.
• Painted in 1932 -- Picasso's 'annus mirabilis' -- it is full of joyful, passionate abandon yet at the same time it is utterly considered and resolved.