Photo: Raymond Loewy and Picasso's "Seated Woman in Red Hat"

Picasso’s Seated Woman In Red Hat, Too Valuable To Keep

Here’s a strange story unique to the art world, one that you might call a tale of lost and found…and lost again. You can read the full detail in this Phaidon article, but basically this masterpiece was not documented properly when given to a small US museum by Raymond Loewy in the 1960s, and ended up unrecognized and in storage for nearly 50 years. Upon discovery of only one of 50-60 Picasso’s done using the Gemmaux technique, the museum was elated. However that excitement quickly gave way to hard financial realities and a difficult decision was taken. Due to the cost of securing and insuring the work, the museum has decided to sell the piece as their budget will not allow them to keep it. All’s well that ends well, as art lovers will soon have access to the previously lost Picasso, and the museum will be perfectly healthy for the long term.

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