Pablo Picasso, The Painter II, 1970

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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 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, 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 make 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 supply of important canvasses dries up, we expect significant growth in beautiful, well, and fully executed drawings like The Painter II. 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 II?
The Painter II 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. 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.

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.

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