Sample Appraisal: Picasso Original Drawing Guernica Etude III

Sample Appraisal: Picasso Original Drawing Guernica Etude III

Appraisal ID: 10300
Appraised On: Jan 21, 2006
Market Value: $ 1,500.00
Replacement Value: $ 1,900.00


This is another print by Pablo Picasso produced during the late
1930s as he was first experimenting with the printing processes. It is
one of many depictions of Guernica created by Picasso, the most famous
of which is a mural originally displayed at the Spanish Pavilion off the
Paris Exposition in May 1937. Guernica was a little Basque village in
northern Spain that suffered atrocities and burned for three days on
behalf of Franco. The scenes of Guernica depicted by Picasso did not
represent the horror of Guernica in realist or romantic terms. Instead
he used jumbled and disjointed images that evoked more mystery than
anything. As for the Certificate of Authenticity, unfortunately we
cannot read it. However, we advise you to read it closely. There is no
way, regardless of what the certificate says, that we consider this
piece worth anywhere near what is claimed. Based on comparative data for
other Guernica prints recently sold, and considering the similarities
and differences for the condition, size, artistic merit, and age, we
have valued the subject piece as indicated.
Item/Title: Guernica Etude III
Date/Period of Manufacture: 13.5.1939
Condition: very good
Manufacturer/Artist/Author: Pablo Ruiz Picasso
Dimensions (HxWxD): 23,9 x 45,5 cm
Inscription: it is signed Picasso II V I and dated with 13.5.1939
History/Provenance: This unique Piece is colourful and
it brings our Family Generation very much Luck. Now our Grandpa died
and we sell two of our best Pieces. Private Collection/Saudi Arabia
To me it looks like it is etching for it is numbered. The artist must
have painted over it with pastel and crayon.
It will comes with a Certificate of Authenticity from Gallerie Piccola,
Genua, signed by Camillo Pulgini and it has a Value of US$ 90.000 –

This online appraisal report is an appraisal expert’s opinion of
value based on market comparable research of the item description and
images supplied by our customer. No further guarantee of authenticity,
genuineness, attribution or authorship is represented.

Current Fair Market Value is the price agreed on between a
willing buyer and seller, neither being required to act, and both having
reasonable knowledge of the facts.

Replacement Value is the price in terms of money that would be
required to replace the property in question with another of similar
age, quality, origin, appearance, provenance and condition, within a
reasonable length of time in an appropriate market.

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