Christie's Hong Kong auction house has announced that an engraving by the Spanish master Picasso, entitled the Frugal Meal, sold at auction for a record US$1,200,000.

The 1904 etching representing a destitute couple, is an important work from Picasso's "blue period".

According to Christie's Hong Kong, it is so far the highest-priced engraving in history.

German art dealer Heinz Berggruen, a 90-year-old patron of the arts and a personal friend of Picasso, acquired the work.

(CRI.com December 7, 2004)