Frida Kahlo’s painting titled “Diego y yo” (Diego and I) will be put up for auction at Sotheby’s “Modern Evening Sale” in New York next month. The painting features the Mexican painter’s self-portrait along with her husband, muralist Diego Rivera. It reflects the strong bond between the couple and it is the final, fully realised "bust" self-portrait Kahlo completed before her death in 1954.

According to Sotheby’s, the artwork is poised to shatter Kahlo’s current auction record of $8 million (Rp113,7 billion) achieved in 2016 for her painting titled “Dos desnudos en un bosque” sold at Christie’s. 

"Diego y yo" may become the most valuable Latin American artwork ever sold at an auction. Sotheby’s estimates that it will be sold for more than $30 million (Rp427 billion).  It would also surpass the previous $9.8 million auction record set by Rivera for his painting titled “The Rivals”. 

“A painting by Kahlo of this quality and excellence is a rarity at auction. When I look at this painting, the phrase 'abre los ojos', Spanish for 'open your eyes', immediately comes to mind. In the literal sense, it refers to the penetrating stare of Kahlo as the sitter of the portrait (and the double portrait of Rivera), but I think it also symbolises the incredible moment this painting will surely usher in for Kahlo, as the market opens its eyes to Kahlo in a new way and secures her place in the auction echelon she belongs,” said Sotheby’s Co-Head of Impressionist & Modern Art in New York Julian Dawes. 

The story behind the painting as well as the Mexican government' strict regulations that 

prohibiting national heritage from being exported are seen as the reasons that boost the painting’s value. The painting was taken out of Mexico before the rules were issued, when Kahlo gave it to her friends as a gift. 

Kahlo and Rivera’s relationship itself is considered as a part of cultural history which has been studied for its controversial feminist implications. 

“Frida Kahlo’s emotionally bare and complex portrait 'Diego y yo' is a defining work by one of the few artists whose influence transcends the world of fine art to pop culture and beyond. To offer this portrait in our Modern Evening Sale in November heralds the recent expansion of the Modern category to include greater representation of underrepresented artists, notably women artists, and rethink how they have historically been valued at auction,” stated Sotheby’s Chairman and Worldwide Head of Sales for Global Fine Art Brooke Lampley. 

“Diego y yo'' will be available for public view in Hong Kong on 7-11 October and in London on 22-25 October before returning to New York for exhibition before the November sale.