Pablo Picasso, The Painter III, 1970
Main reasons to invest
Return Potential📈: An investment of 500 EUR is projected to be worth approximately 715 EUR in 4 years.
Cost-to-Return Ratio⚖️: With just 2.0% annual total costs (including exit fees), your net profit could be an impressive 9.4% per year.
Auction Prices 🔨: Picasso famously immortalized the people of his life and portrayed his sentimental companions, children, friends, and patrons. He also dedicated well over 500 works to painting artists, including himself. Here, many of his creations are directly drawn on paper or cardboard and reflect the immediateness with which Picasso tried to capture the process he was experimenting with. These works sell on average for over USD 400’000 in the last decade, with an upward tendency and a positive high-estimate-to-sale price ratio. Especially in 1970, Picasso repeatedly returned to the theme and created various versions of a painter seen in profile handling his color palette, pencil, or brush with differing levels of execution.
Description
"Following the notable performance of the first Picasso offering we are please to offer another masterpiece by the best-ranking artist since decades, characterized by consistent price growth and resilience even in adverse market climates." - Javier Lumbreras, CEO at Artemundi
See our successful exit achieved by Artemundi: Chagall +15.4% net-return in 1.5 months
Who is Pablo Picasso?
Undoubtedly the most influential artist of the 20th century, Pablo Picasso’s importance for the world’s cultural heritage is reflected in the constantly growing prices and appreciation for his artistic creation. He is currently the world's best-selling artist by volume and value and has defended his global art market dominance for decades. His name consistently features in the Top 10 selling lots of the most important auction marathons yearly. His works appear in all major museums and institutions, often representing the highlight of their collection. In 2023, the art world celebrated Picasso’s 50th death anniversary with numerous exhibitions dedicated to the artist and his ongoing impact on the following generations of artists. This also positively affected the market, and the total turnover of last year of the Picasso market surpassed USD 502 million USD, including the sale of Picasso’s Femme à la Montre, which sold for USD 139,363,500, making it the second highest-selling Picasso at auction ever and the best-selling artwork auctioned that year.
While Picasso created a vast output of artworks, including paintings, drawings, sculptures, and ceramics, his paintings and drawings determine his prominence as an artist worth acquiring. However, it is interesting to note that the number of works on paper and paintings that have come up at auction since 2000 makes up less than 10% of all lots offered. Yet, works on paper alone contributed 11% of the turnover since 2000, highlighting their economic importance in the Picasso market performance. As a supply of important canvasses dries up, we expect significant growth in beautiful, well, and fully executed drawings like The Painter II and The Painter III. In 2023, Picasso’s works on paper generated over USD 32.5 million, more than many other artists markets all categories combined.
Why the Painter III?
The Painter III is a drawing from Picasso’s later years. It shows a precise, yet free composition drawn with colored crayons and filled with red, yellow, and blue details. A self-portrait, the artist rejuvenated in this work and presents himself with a clear and focused mind dedicated to his art, the irrefutable driving force of his life and career. It is a motif he turned to multiple times in the last years of his life. Still, it is a spontaneous creation that sparked Picasso’s interest in such a way that he reinvented it over and over again. The composition is drawn in the three primary colors, red, blue, and yellow, with few details in white and black It generously occupies the entire cardboard, often seen in Picasso’s work, almost eliminating the borders between the cardboard, the support of his creation, and the world around it.
The present artwork is the companion to Picasso’s The Painter II, which too was created on July 20th, 1970. With less detail and greater focus on the artist’s utensils Picasso slightly shifts the narrative of the repetition and visualizes the many aspects he was able to extract out of the same subject matter. Both works are offered through art investment expert Artemundi and a future sale of the works together will not only generate interest among private collectors but also attract art institutions, further boosting prices.
Artworks from the final years (1970-1973) make up 3.5% of all artworks sold at auction since 2014, which is in line with the average yearly output of the artist and shows Picasso's everlasting impulse to create art until the very end. However, the turnover of paintings and works on paper from the final years sold at auction since 2014 contributes close to 7% of the total turnover of paintings and works on paper from all periods. Evidently, paintings and works on paper from Picasso's final years have a strong standing in the Picasso market as their market value outperforms their market volume.
Sell your Splints? We now provide you with the option to repurchase your splints at market value anytime. Please note that an additional processing fee will apply. The processing fee varies based on the volume, investment, and your holding duration. Use the contact form to initiate the process.
Expert
Since our foundation in 1989, Artemundi has evolved into an industry-leading art investment company with thousands of successful transactions and over a billion dollars managed in art. Artemundi is the trusted advisor of Spectrum Utilis, S.L.
