Monday, November 29, 2010

Staggering Cache Of Picassos Turns Up In France

A retired electrician in southern France who once worked for painter Pablo Picasso says he has hundreds of previously unknown works by the artist — a treasure trove of 271 pieces said to be worth about $80 million.

Pierre Le Guennec and his wife for years squirreled away the staggering cache — which is believed to be authentic, but whose origin is unclear — in their garage on the French Riviera, said Picasso Administration lawyer Jean-Jacques Neuer.

The works, dating from 1900 to 1932, include lithographs, portraits, watercolors and sketches — plus nine Cubist collages said to be worth euro40 million alone, according to French daily Liberation, which reported the discovery Monday.

Le Guennec, 71, says Picasso gave him the works as gifts. The electrician installed burglar alarm systems at Picasso's numerous houses in France during the three years before the artist died in 1973. More at the LINK

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