Long-Forgotten Picasso Is a Museum’s Windfall

When Arlan Ettinger, the president of Guernsey’s auction house in New York, first called the Evansville Museum of Arts, History and Science back in February to ask about a layered glass mosaic by Picasso that he had traced to the museum, officials there said, in effect, “Sorry, wrong number.” They had never heard of it.

A day or two later the museum called back, Mr. Ettinger said. Spurred by his query officials discovered that this rare work was there in Indiana after all, mislabeled and stashed in an old shipping crate for more than 40 years.

“You could sort of hear corks popping at their end of the line,” Mr. Ettinger said.

Rather than display their newfound Picasso treasure, however, officials have decided to sell it, using Mr. Ettinger’s company.

It is nearly impossible to put a price tag on the piece, “Seated Woman With Red Hat,” since this kind of work has not been on the market for nearly half a century, experts say. But Mr. Ettinger said he hoped to sell it for $30 million to $40 million, more than five times the museum’s entire $6 million endowment.

http://www.nytimes.com/2012/09/13/arts/design/forgotten-picasso-is-windfall-for-evansville-museum.html?smid=tw-nytimes&seid=auto

 

In a first, I say without objectifying women at all, TTIWWOP.

 

A 6 at best.

 

I just want some of whatever it was Picasso was drinking (or smoking or whatever).

 

Great story. Beautiful, unusual picture. And given to the museum by one of the most famous industrial designers in American history.

www.raymondloewy.com

 

This reminds me of the Renoir a West Virginia woman found in a garage sale last year. it was in a carton of junk that she picked up for $7.00. Painting is worth between $75k and $100k