I like this story, and the pictures. Any other Picasso fans here? Arianna Huffington wrote a good bio of Picasso before she went into politics.
I posted this because I liked the pictures, but one item in the linked story raises an interesting question. The writer blandly asserts that the 271 newly discovered Picasso works are worth “more than £50million”.
How do they know this? What formula are they using? Does it even make sense to say how much a painting like one of these is worth before it has been put on the market? How do you quantify historical value?
There are some phony pseudo-markets in the world, like the one for “carbon credits” and the one for U.S. debt (hi, RV!) where the usual laws of supply and demand don’t function (for carbon credits there is no real counterparty, for the US$ they can print more anytime they want so supply is not definable, for works of a famous dead artist the supply is a very finite set of objects which are each unique and mostly not for sale). I’m willing to believe that an appraiser could judge the value of a painting by an unknown artist in a way that wasn’t completely useless; but after all the Picasso trove has been sold I’ll be very impressed if the estimate is within 50% of the price.
Not a lot of art fans here! Only 4 hits yesterday and none today, even though today’s “Price discrimination” post mentioned that there was economics here as well as art.
Picasso was a great genius, and I am impressed at how unmistakably his all 10 of these works are even though they are in a variety of styles. I like the horse figure and the two seated women the best. The news story probably picked 10 of the best of the 271 newly found works, can anyone provide links to more?
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