NEW YORK — Pablo Picasso’s colorful 1932 oil painting “The Rescue” sold for $31.5 million at a New York auction Wednesday, far exceeding its $14 million to $18 million estimate.

“The Rescue” led the bidding at a Sotheby’s sale of impressionist and modern art. The auction house sold 50 pieces, raising about $219 million.

It was the second straight night a painting by the cubist master changed hands for a big price. Picasso’s 1942 painting of his mistress in a purple dress titled “Portrait of Dora Maar” sold Tuesday for $22.5 million at Christie’s.

Henri Matisse’s “Morning Session,” a 1924 oil of the artist’s assistant, Henriette Darricarrere, sold for $19.2 million on Wednesday.