United States:
Picasso’s Granddaughter Privately Selling Art To Finance Philanthropic Projects
06 February 2015
Fox Rothschild LLP
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Marina Picasso, who inherited nearly 10,000 works of art created
by Pablo Picasso – including paintings, ceramics, drawings,
etchings and sculptures – is bypassing dealers and auction
houses to sell the art to "finance and broaden her
philanthropy."
The New York Times recently reported that Ms. Picasso "has
been regularly selling her grandfather's works for years to
support herself and her charities," however, she seems to be
"accelerating" her sale of art and acting more
aggressively to "purge herself of her legacy."
While the private sale of artwork is not entirely unusual, Ms.
Picasso's strategy of selling an undetermined number of works
"one by one, based on need" by word-of-mouth advertising
is raising eyebrows in the art market.
Read more about Marina Picasso's sales strategy and strained
family history here.
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