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January 21, 2005

Any Way You Sell It, a Picasso's Still a Picasso


If you're in the market for fine art to enhance your contemporary decor, you may want to snub the upscale auction houses like Sotheby's and Christies in favor of a decidedly less extravagant purveyor, Costco.

Jim Tutwiler, a fine art dealer from Orlando, Fla. who’s been selling pieces through the bulk and wholesale business for the past ten years, recently offered its second original Picasso. The work, described as a “doodle” on the inside of a book jacket, is in crayon, signed by the artist Nov. 29, 1970 and accompanied by a handwritten, signed declaration of authenticity from Picasso’s daughter, Maya.

Tutwiler first sold a Picasso drawing through in November 2004 for $35,000. He says buying from Costco is a boon to the consumer who pays just one-tenth of the markup they would be charged at a traditional gallery or auction house.

With a $39,999 price tag, this drawing is leagues away from the bulk pasta and soups Costco generally carries, but anywhere you sell it, a Picasso’s still a Picasso.

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