Sotheby's: Sale of Munch's 'Scream' could fetch $80M

LONDON — Sotheby's will offer the only privately owned version of Edvard Munch's painting "The Scream" at an auction in New York on May 2, and expects it to fetch more than $80 million.

The work is owned by Norwegian businessman Petter Olsen, whose father Thomas was a friend, neighbor and patron of Munch, the auctioneer said on Tuesday.

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There are only four versions of "The Scream"; this pastel version dates from 1895.

Simon Shaw, senior vice president and head of Sotheby's Impressionist & Modern Art department in New York, called the pastel-on-board creation "one of the most important works of art in private hands.

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"Given how rarely true icons come to the market it is difficult to predict The Scream's value," he added in a statement. "The recent success of masterpieces at Sotheby's suggests that the price could exceed $80 million."

Olsen said proceeds from the sale would go towards building a new museum, art centre and hotel at his farm in Norway.

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