Le Rêve (French: The Dream ) is a 1932 oil painting by Pablo Picasso, who was 50 years old at the time , which portrays his 24 year old mistress Marie-Thérèse Walter. It is said to have been painted in one afternoon, on January 24, 1932. This painting belongs to Picasso’s period of distorted depictions, with its oversimplified outlines and contrasted colors resembling early Fauvism. The erotic content of the painting has been noted repeatedly, with critics pointing out that Picasso painted an erect penis, presumably symbolizing his own, in the upturned face of his model. Le Rêve was purchased for $7,000 in 1941 by Victor and Sally Ganz of New York City. This purchase began their 50-year collection of works by just five artists: Picasso, Jasper Johns, Robert Rauschenberg, Frank Stella, and Eva Hesse. After the Ganzes died (Victor in 1987 and Sally in 1997), their collection, including Le Rêve, was sold at Christie’s auction house on November 11, 1997. Le Rêve sold for an unexpectedly high $48.4 million, at the time the sixth most expensive painting sold (tenth when taking inflation into account). The entire collection set a record for the sale of a private collection, bringing $206.5 million. The total amount paid by the Ganzes over their lifetime of collecting these pieces was around $2 million.
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