Photo Courtesy of Rago Auctions
I always get excited when I hear about a new "find" in the world of antiques. It just goes to show there are things still hidden, just waiting to be found by us, out there.
The other day I was reading about the latest find in the art world, and what a find it was! A collection of 271 paintings, drawings, sketches and lithographs were uncovered at the home of a retired French electrician. The collection is estimated at 60m Euro.
So what is a retired electrician doing with 271 works of art by Picasso?
He claims they were given to him over the years by the artist for installing alarm systems into his numerous homes. Le Guennec (the electrician) produced a notebook filled with never before seen drawings and photographs of numerous others. Some of the works were thought to be "lost" after floors ruined Picasso's studio.
According to Le Guennec, the "gifts" were received within the last three years of Picasso's life.
Among the works are 9 cubist pieces estimated at 40m Euro alone; a blue period painting, and additional drawings of his first wife, Olga Khokhlova.
This has to be some of the most exciting news the art world has heard in quite some time. What a find right? Or is it?
Three months ago, Le Guennec walked into the offices of the Picasso Administration. For those of you new to the art world, there is a committee that gives the thumbs up for newly found works by some artists, or who give the thumbs down.
He surprised everyone with a suitcase filled with 175 different works he claimed were designs by Picasso and was looking for certificates of authenticity. Claude Picasso had been contacted by Le Guennec several months back. He had submitted numerous photos of the works but the photos were not good and Picasso disregarded them as they were not documented anywhere.
The works were also not dated, which according to Claude Picasso, means they should have never left the studio. However, they did offer a numbering system that was only known to the artist.
Picasso was a very generous person, but as his son noted, Picasso would have signed and dated, and perhaps even dedicated the item being given.
So where does that leave the collection? Recently Le Guennec was arrested by the French police, yet released without any charges. The six remaining family members are taking legal action against Le Guennec for receipt of stolen goods. The French police are also looking into the case further.
Le Guennec stands by his statement that he did not steal the works from Picasso.
From where I sit, and for whatever it's worth -- it would seem as though these items might have been given as gifts, because as Picasso's son states, there are no records of most of the items, yet they are authentic. Playing devil's advocate, one has to ask why an electrician would have sat on these for so long before having them authenticated. Then again, there is no mention of him trying to sell them. If they are really stolen, he might have been better off trying to get just one authenticated that day at the administration office as opposed to hundreds!
So many things to consider! And on a final note, what would happen to the market if all of these should become available?
I have a feeling this is not the last we'll hear about this story!