A rare to market Blue Period painting by Pablo Picasso with a second picture on its reverse will go under the gavel this fall. Sotheby's i offering the Picasso, which reportedly could fetch $60 million, from the collection of energy billionaire William "Bill" I. Koch, known for his America's Cup win, his art and wine collections, and as the brother of conservative donors Charles and David Koch. 

Koch is letting go of Picasso's "The Night Club Singer" or "La Gommeuse" which was painted in 1901 shortly after the artist's first Paris exhibition. Picasso was "emboldened by the public success of his debut, but at the same time reeling from the suicide of his friend Carlos Casagemas. The poignancy, introspection and sexual charge of this watershed moment in Modernism are present in this piece," Sotheby's statement reads.

The naked cabaret singer has a peculiar partner painting on the reverse depicting Picasso's dealer, Pere Manach, in an awkward position with his skin a sickly yellow hue. Manach's depiction was revealed during a 2000 conservation.

A 1908 "Water Lilies" painting from the iconic series by Claude Monet is another prime offering from Koch's vast collections which also include maritime antiques, Western art masterpieces, and much more. (I interviewd Koch at his Cape Cod home for a 2001 article about his collection here.) 

The Monet is estimated to bring between $30 million and $50 million.

The paintings are on preview in London through Oct. 15, returning for exhibiton at Sotheby's New York on Oct. 30. The sale is Nov. 5.