Works of art collected by the late Wall Street financier Theodore Forstmann were sold at as much as $75 million. Forstmann died at age 71. Among the sale highlights is Pablo Picasso's 1941 portrait of his muse, Dora Maar, titled "Seated Woman in an Armchair." Sotheby's said it is expected to sell for $20 million to $30 million. Forstmann was a philanthropist. He co-founded the Children's Scholarship Fund and was director of the International Rescue Committee and a trustee of the Nelson Mandela Children's Fund.