A small painting attributed to 20th-century master Pablo Picasso that was recently discovered in a closet in Maine has sold at auction in Amesbury, Mass., for more than $150,000, according to the Boston Globe.
On June 26, John McInnis Auctioneers hammered down the work for $150,000, plus a 24 percent buyer’s premium.
Titled “Le Tricorne,” the 16-by-16-inch mixed media work on paper is signed and dated 1919.
According to the catalogue description, the work is a “maquette for Picasso’s largest work by the same title on exhibit at the New-York Historical Society, New York City.”
The buyer will have at least 120 days to have the maquette (a study or preliminary work) authenticated as by Picasso, per the sale terms.
“My aunt collected rare books and art,” the consignor noted in the catalogue. “Each led an interesting life with uncommon travels which was afforded to them through their uncle who owned mills in Maine. ... This painting was discovered in a house owned by my great aunt which was passed down to her from her uncle in the late 1930s.”
The Picasso was amongst several paintings the homeowner says were “kept in a closet for 50 years ... which were left by her at the time of the passing of the house to my father and now to me.”