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Four masterpieces from Nasher collection sold at Sotheby's auction

Four masterpieces from the vast collection of Raymond and Patsy Nasher fetched big prices at a Sotheby’s auction conducted Wednesday evening in New York.

Leading the way were two pieces by Picasso, one of which -- the very large canvas Le Baiser ("The Kiss") -- garnered $17.4 million, well above its anticipated sale price of $15 million.

Along with Le Baiser and another work by Picasso, two Giacomettis also sold very successfully, bringing the total take from the Nasher pieces to $27.5 million.

After Ray Nasher, the developer of NorthPark Center mall, died in 2007 (his wife died in 1988), the Nasher Foundation announced plans to auction some 200 pieces from the couple's collection that were not considered central to the mission of the Nasher Sculpture Center, which opened in 2003.

More works will be auctioned on Friday.