A complete set of 24 silver plates by Pablo Picasso has sold for $2.5m in Hong Kong.

The lot exceeded its estimate of $2.3m by 5.6% in Sotheby's July 23 Boundless auction.

Picasso created the set of 24 silver plates in collaboration with metalworker Francois Hugo

The set was based on the ceramics Picasso began making in the mid-1940s. He became interested in the medium after visiting Vallauris in France, a centre for the production of pottery.

Picasso created the plates in collaboration with metalworker Francois Hugo, grandson of Victor Hugo, in 1967.

Only 20 sets were ever made and were shown to a handful of people.

The public and art world at large remained unaware of their existence until an exhibition in 1977.

This marks the first time a complete set has been sold at auction.

Isaure de Viel Castel, head of Boundless Sales at Sotheby's Hong Kong, explained: "Extraordinarily precious in material and rare in quantity, Picasso's 24 silver plates offered as a single lot provide an unprecedented acquisition opportunity for collectors from the region and beyond."

We have a postcard signed by Pablo Picasso for sale.

Pierre Soulages' Peinture 92 x 65cm (1955) was another highlight, with a final bid of $969,478 - up 15.6% on an $837,980 valuation.

Soulages is an abstract expressionist painter who is often described as one of France's greatest living artists.

Please sign up to our free newsletter to receive exciting news about art and photography auctions.