A late “musketeer” painting by Pablo Picasso sold for 7 million pounds ($11.5 million) at Sotheby’s last night as buyers looked for value in the contracted auction market for Impressionist art.

The 1969 work dates to a period late in Picasso’s life when he was obsessed with floppy-hatted swashbucklers and their Casanova lifestyles.

In this version, Picasso’s doppelganger stands before a velvety red backdrop in a yellow jacket. He holds a sword as if posing for an Old Master portrait.

Amid the current ailing art market, Picasso is proving to be a reliable master at auction, even when his subject matter veers into the absurd.