A Seller's Guide to Pablo Picasso Prints

Picasso's printmaking career began in the early 1900s, concurrent with his work in the originals market His print market, however, takes a nuanced approach. The Saltimbanque Suite, one of Picasso's earliest print series, was published by art dealer Ambroise Vollard in editions of 250, depicting themes of poverty, isolation, and the transient life of circus performers. This series includes Le repas frugal (1904), Picasso's most famous print, where the original etching is a key reflection of his early career and a quintessential Blue Period icon.

The first etchings of Le repas frugal hold Picasso's auction record for a print, fetching over £6 million at Christie's in 2022. The high value is attributed to the verified signature and unknown number of impressions printed by Auguste Delâtre in 1904 and 1905. Editions of this print published by Vollard are valued at £45,000 to 60,000 according to MyArtBroker's MyPortfolio.

The 1930s marked another significant phase in Picasso’s printmaking with the La Suite Vollard, produced between 1930 and 1937. This collection features themes of sex, intrigue, and mythology, notably through the minotaur, inspired by his muse Marie-Thérèse Walter who would later influence some of his greatest paintings. Different aquatint techniques were used for works belonging to this collection, showcasing Picasso's diversity as a printmaker. High-value prints from this collection, like Minotaure Attaquant Une Amazone (La Suite Vollard) (1933), are valued between £21,000 to 30,000. Other prints in this series are more accessible, priced at £15,000 and below, depending on condition and authentication.

Post-1945, Picasso collaborated with lithographer Fernand Mourlot, producing approximately 400 lithographs. Many of these works are portraits of Picasso's numerous lovers, including Françoise Gilot and Jacqueline Roque, who later became his wife. Picasso often added unique hand-finished touches to these portraits, using a finger-paint technique. These prints are characterised by vibrant colours and bold patterns. For instance, Portrait De Jacqueline Au Chapeau De Paille Multicolore (1962) is a reflection of this period and is valued between £50,000 and £70,000.

Overall, the market value of Picasso prints varies based on factors like condition, signature, and authentication from the Picasso Administration or his heirs, significantly impacting their worth.

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The primary authority for authenticating Picasso's works is The Picasso Administration, previously known as The Picasso Estate. For many years, this administration was managed by Picasso's youngest son, Claude Ruiz Picasso. Claude was appointed as the administrator of The Picasso estate by court order in 1989 and held this position until July 2023, when he handed over (the current) management to his younger sister, Paloma Ruiz Picasso. Claude's tenure included overseeing the authentication process and holding the Picasso copyright. Claude passed away in August 2023 at the age of 76. As the new manager of the estate, Paloma continues the work of overseeing the authentication of Picasso's artworks.

The Role of Heirs in Authentication

Under French law, Picasso's heirs have inherited the moral right (droit moral) to authenticate his works, allowing them to issue certificates of authenticity (COA) based on their understanding of his oeuvre. Initially, the heirs formed a committee to handle authentication, but disputes led to its disbandment. Consequently, the primary heirs and half-siblings, particularly Claude Picasso and Maya Widmaier-Picasso, began issuing certificates independently, complicating the process for dealers and sellers who often required dual authentications.

To address these complications, in the early 2000s, Picasso's five surviving children circulated a letter announcing a new procedure for authenticating the artist's works. The letter specified that all authentication requests should be addressed to Claude, whose opinions would be the only ones officially acknowledged. Notably, Maya's signature was absent from this letter, reflecting her exclusion from the new arrangement. Under droit moral, being an heir of Picasso, Maya is still allowed to issue COAs. However, it is said that after the letter recognising Claude's succession, Maya's issuance of COAs declined due to health complications.

This change, in a way, centralised the authentication process, reducing complications for collectors and sellers who now needed only Claude's certification. However, Maya's opinions are still recognised and given weight by dealers and auction houses.

Picasso Catalogue Raisonné

A longstanding criticism of the Picasso Administration is the absence of a comprehensive and reliable catalogue raisonné of Picasso’s work. In the early 1930s, art critic and publisher Christian Zervos began cataloging Picasso’s oeuvre, culminating in a 33-volume catalogue known as “Zervos,” listing over 16,000 paintings and drawings. The last volume was published in 1978 after Zervos's death. In 2014, Staffan Ahrenberg reissued “Zervos” after acquiring Parisian publishing house Cahiers d’Art in 2010. The updated, near-facsimile version, was produced in both English and French with the Picasso Administration's blessing, making it an indispensable reference for Picasso specialists and scholars.

However, Picasso authentication is complicated by works missing from Zervos due to Picasso's vast output. Some dealers and auction houses rely on the San Francisco-based Picasso Project, an ongoing photographic catalogue. Following legal negotiations with the Picasso Administration, a 2000 settlement allowed the Picasso Project to continue publishing with disclaimers. Another resource is the On-line Picasso Project, which started in 1997 and compiles material from published sources online. The Picasso Administration initially attempted to shut it down, but as an academic, nonprofit venture drawing exclusively from previously published material, it continues. Sellers should note that the Picasso Administration does not support or authorise the Picasso Project or the On-line Picasso Project, which can impact the perceived value of works.

Additionally, and most recently, Diana Widmaier-Picasso, Maya’s daughter and a trained art historian, began preparing a catalogue raisonné of Picasso’s sculptures in 2004. Diana is considered a reliable source by auction houses. Although the Picasso Administration maintains no formal involvement with Diana’s research.

Authenticating a Picasso print is vital for confirming its value and legitimacy in the art market. The large volume of prints, varied techniques, and inconsistent record-keeping complicate the process, requiring thorough provenance research, expert evaluation, and official certification from the Picasso Administration to ensure the highest value. Start with a preliminary assessment by a Picasso specialist, followed by tracing the artwork's ownership history through documents like receipts and exhibition records. Submit the piece for official authentication to the Picasso Administration, noting that this process can take several months to a year. Additionally, ensure the artwork is listed in the Picasso Catalogue Raisonné. Detailed documentation and multiple expert consultations enhance accuracy, significantly boosting market value and collectibility.

The condition of your Picasso print is crucial and directly affects its value. Given that Picasso's printmaking career spanned from the early 1900s until his death in 1973, some prints might not be in the best condition. However, well-preserved prints with minimal damage and consistent quality command higher prices. Factors such as poor framing, exposure to sunlight, and humidity can deteriorate prints, reducing their worth. Along with provenance and documentation, proper care, conservation, and condition reports are essential before deciding to sell your Picasso print. MyArtBroker can assist with this by leveraging our network to connect you with trusted external experts for your conservation, restoration, and condition checks needs.

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The best time to sell a Picasso print depends on several factors, including market conditions, significant art events, and personal circumstances. Understanding these factors can help you maximise your return. Strong market trends are key indicators of the best time to sell. Picasso originals often appear in major marquee sales, sometimes multiple at once, and various Picasso prints are featured in day and edition sales. High auction sales coupled with strong economic conditions usually indicate an ideal time to sell.

Major exhibitions and retrospectives can significantly boost the value and interest in Picasso’s works. For example, the Picasso Sculpture exhibition at MoMA in 2015 and the Picasso Ingres: Face to Face exhibition at The National Gallery in 2022 increased interest in his works with record prices set in those years. Similarly, anniversaries of Picasso's birth or death often see a surge in demand. For instance, the 50th anniversary of Picasso's death in 2023 sparked renewed interest and higher sales prices for his works. This was evidenced by the successful sale of the Emily Fisher Landau Collection auctioned by Sotheby's in November 2023, where Femme à la montre (1932) sold for £113.3 million (with fees), ranking second only to Picasso's auction record set in 2015. Explore the value of Picasso's works further by examining his highest prices achieved at auction.

Your personal financial needs and the condition of the print are crucial factors in deciding when to sell. If you require liquidity, it is important to sell when you can achieve a good return, even if it's not during peak market times. Ensuring the print is in optimal condition is essential, as well-preserved prints command higher prices. Consulting with art market experts or dealers, such as those at MyArtBroker, can provide valuable insights into the best timing based on current trends and conditions. Our sales can help you navigate the complexities of the market and ensure you get the best possible price for your Picasso print.

When deciding to sell your Picasso print, there are various avenues to explore, including auction houses, private sales, and online platforms. Each option offers distinct advantages catering to different aspects of the market.

Selling a Picasso via Auction House

Auction houses are a popular choice for selling artwork due to their expertise and extensive market base, which can provide accurate valuations and attract the right buyers. The competitive nature of auctions can drive up the value of your work beyond estimates, potentially resulting in a healthy return. However, auction sales have drawbacks, including high fees (often exceeding 25% for marketing, storage, condition checks, and seller commissions) and strict schedules. Auction houses may also limit the number of prints by the same artist in a single sale, possibly causing delays and affecting liquidity. Additionally, there's always the risk that your artwork may not sell, which can impact its value and the artist's market. For more detailed insights, refer to our Auction vs. Private Sale Guide.

Selling a Picasso Privately via Dealer

An alternative to public auction sales is selling via the private market. One option is a private dealer who can provide a more personalised experience and guide you through the valuation process. Many dealers have extensive art market or auction house experience and a client base that can attract buyers for your print. It's crucial to choose a reputable dealer with expertise in the Picasso market to achieve optimal results. Note that dealers also have their own set of fees.

Alternatively, online platforms like MyArtBroker offer a modern approach. With advancements in online and art technology and an increasing interest in online sales, many sellers are turning to the convenience of digital platforms. MyArtBroker provides a personalised experience along with art tech tools that enhance transparency and help you understand the nuances of the art market. MyArtBroker's Trading Floor directly reflects demand and connects sellers with buyers interested in specific prints. Contact one of our sales experts to explore our network and trading options further.

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A Dedicated Expert

Choosing to sell your Picasso print with MyArtBroker offers several advantages. Our platform provides a personalised experience, ensuring your specific needs and goals are met throughout the selling process.
Our team of experts offers complimentary, no-obligation valuations, giving you an accurate understanding of your print's market value. With extensive knowledge of Picasso's works and the art market, we provide precise and insightful assessments.

Minimise Risk

At MyArtBroker, we strive to offer unparalleled transparency and security in the sale of your artwork. Our live Trading Floor provides real-time market data and insights, keeping you well-informed about current trends and conditions. We conduct a comprehensive due diligence process ensures the authentication and provenance of your piece, minimising the risks associated with counterfeit trading. We also leverage our internal expertise and collaborate with trusted external partners to reduce these risks further. Additionally, we mitigate the uncertainties of public auction sales, such as unsold items that can impact value and the artist's market, by facilitating private sales that offer faster liquidity outside of auction seasons.

0% SELLER’S FEES, 100% OF THE TIME

We distinguish ourselves from traditional auction houses and private dealers by charging no seller fees, ensuring you retain the maximum amount from your sale. Our approach, combined with targeted marketing strategies, enhances your selling experience. Specialising in rare and special edition prints, we serve both seasoned collectors and newcomers. We offer complimentary valuations and prioritise digital innovation and targeted marketing through our network and in-house magazine.

Extensive Network

We have a robust network of over 30,000 collectors actively looking to buy and sell prints. This network allows us to connect your Picasso print with interested and serious buyers quickly, maximising your chances of achieving a favourable sale.

MyArtBroker's MyPortfolio is a robust collection management tool designed to help collectors manage and monitor their Picasso prints and editions while tracking their current values. This feature grants access to our extensive print market database, which includes over 50,000 auction histories from global auction houses, integrated with our proprietary algorithm, SingularityX. This advanced algorithm analyses public auction and private sales data to provide real-time valuations for individual prints, considering factors such as condition, colour, and other variables influencing value. Financial Quant expert Stuart Jameison discusses the workings of these algorithms in an interview.

Advanced Art Technology

Navigating today's dynamic digital art market requires advanced art technology tools used by collectors and industry insiders alike. By integrating Picasso prints into the MyPortfolio dashboard, users can monitor unique sales opportunities and track market performance in real time, simplifying the sales process. Our innovative technology has revolutionised art portfolio management, enhancing accessibility and providing data-driven insights for informed decision-making. MyArtBroker leverages state-of-the-art technology driven by comprehensive data analysis, complemented by our team of industry professionals.

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