Can you afford a Picasso?
What a question.
You're probably imagining how much you would have to win on a lottery or which assets you'd have to liquidate to even register to bid for one.
An unmistakable signature.
Nowhere in this article will we say that Picassos are cheap.
But they're not all millions either.
In fact, you can buy "works" by some of history's greatest artists for much less than a second-hand car.
How?
It's not just the big works
In November 2023, an auctioneer in New York hammered down on Femme à la montre, a 1932 portrait of Picasso's lover Marie-Thérèse Walter.
It sold for $139 million.
The buyer wasn't named, but we know one thing about them: they have lots of disposable wealth. Perhaps it was an instution of some sort, buying to invest.
Now, if you have that sort of money, you can stop reading now because you can have what you like in any case.
But for the rest of the world, that's too much.
But what if you still love great art and artists.
Right now, the British Museum is hosting a Picasso exhibition.
Astounding images.
Not one of them original. At least not in the sense that Picasso sat in front of it and with his hand made the marks on paper.
Picasso was a highly skilled print maker.
The British Museum says: "Pablo Picasso (1881–1973) was one of the most inventive and influential talents ever to explore the medium of print.
"In addition to his many paintings, sculptures and drawings, the Málaga-born artist made over 2,400 prints during his career. From his early years as an artist in Paris to his old age in the South of France, printmaking offered Picasso the opportunity to develop ideas, tell stories and embark on new creative adventures."
This Gerhard Richter P11 Aladin print is from an edition of just 500, it's very limited.
What is art? What is original?
These then are something like mass-produced Picassos.
We're not philosophers here.
There's an interesting debate to be had about what art is and what original art is.
At what distance from a creator does their work cease to be their work and become something else?
For collectors this matters because it can influence value.
The closer to the artist the better.
So, a signed print of The Frugal Meal, one of the images in the British Museum show, can be found online valued at between £45,000 and £70,000.
This is a beautiful, meaningful work of art however it was produced, reproduced or created.
Not cheap, as we say.
But not $139 million either.
It takes time to get things right
Few artists sit in their studios churning out perfect finished work after perfect finished work.
Sketches by Paul Signac. They're a fascinating window on a great artist at work.
They sketch. They think. They doodle. They draw.
They're artists. They love to produce art.
Lots of artists like to sign "autographs" with doodles or graphics.
These works might not make it into the canon.
They won't be in those blockbuster museum shows.
But they have value to anyone who loves an artist's work.
Someone caught Dali in a great mood on a flight and got this sketch as a result.
Look at the drawing above.
Whose to say this isn't an original Dali?
It obviously is.
And you could own it for a fraction of the top Dali price at auction: the £13.5 million paid in 2011 for Portrait De Paul Eluard.
A life in art, a life beyond art
Some artists become so well known that the value of their work extends beyond their work.
Signatures are a big deal in art.
You need that name on the canvas.
Or on the print.
What about on an exhibition catalogue?
An Andy Warhol exhibition catalogue showing an Andy Warhol image signed by Andy Warhol. How would you describe this work's relation to Warhol?
What would Andy Warhol make of the authenticity of this as an Andy Warhol work of art.
He loved mass production and reproduction. His best-known works are all prints, including the £158-million Shot Sage Blue Marilyn.
What's so different about this signed Warhol image? A print of a print...
And autographs alone can also have value.
Papers, letters, receipts... all can be a way to get close to your artistic heroes.
And perhaps to make an investment that will pay off.
This is a lovely, appropriate image of outsider/folk artist Grandma Moses, whose work can reach $300,000 at auction.
Rising values
These items are just as unique as any painting.
And just as impossible to reproduce.
There is a finite stock.
It's not a bad bet as investments go.
My best advice to collectors is always to buy what they love.
I defy anyone not to be charmed by this E H Shepard Pooh sketch.
I think that's the most rewarding way to collect.
And, because this means you invest time, care, and will become at least somewhat expert, I think you're more likely to buy well.
As to getting returns, that's largely a matter of timing.
Someone with a Picasso sketch to sell would do well to know key anniversaries, or when big sales are likely to happen.
Attention is a key lubricant of the art economy.
Buying historic artworks today
We're the world's largest dealer in rare collectibles.
And that includes works by some of history's greatest artists. You can see some examples here.
