A Buyer's Guide to Pablo Picasso Prints

Picasso is one of the most influential figures in art history, known for his pivotal role in shaping Modern and Contemporary art. Throughout his prolific career, he worked across various mediums, including painting, printmaking, and ceramics, continually pushing the boundaries of artistic expression. Picasso's works are a fixture at marquee auction sales, with multiple paintings regularly consigned to a single sale, often fetching millions and typically secured with irrevocable bids or auction house guarantees, highlighting their value as both collectible masterpieces and assets. Picasso's printed works also maintain a significant presence in day sales and print auctions, commanding prices from tens of thousands to hundreds of thousands, reinforcing the artist's enduring impact on the art market.

When considering purchasing a Picasso print or adding one to your collection, a good starting point is understanding the different periods of his print production. Beginning his printmaking career in the late 19th century and continuing throughout his life, Picasso is believed to have produced hundreds of thousands of prints using various techniques.

La Suite Des Saltimbanques

One of Picasso's earliest experiments was the Saltimbanque Suite, a collection of 14 etchings published by art dealer Ambroise Vollard in editions of 250. The “saltimbanque” refers to itinerant circus performers, a recurring theme in Picasso's Rose Period paintings. This collection is particularly significant as it includes Le Repas Frugal (1904), depicting a frail, starving man and woman at a dinner table. This print currently holds the record for the highest-valued Picasso print sold at auction, fetching over £6 million (with fees) at Christie's in 2022.

La Suite Vollard

Another key series is La Suite Vollard, created between 1930 and 1937, where Picasso experimented with aquatint. This series features mythical creatures like the minotaur, seen in Minotaure Aveugle Guidé Par Une Fillette II, alongside early depictions of his muse and lover, Marie-Thérèse Walter. This period in printmaking is often referred to as Picasso's Neoclassical phase. In the 1940s, Picasso began experimenting with lithography in Paris, producing coloured portraits of Françoise Gilot, his latest lover at the time.

The Crommelyncks

Other notable series showcasing Picasso’s artistic evolution as a printmaker include Le Taureau (1945-46), a lithograph series exploring the development of the bull as a central motif, as well as his later collections, the 347 Suite and 156 Suite, where Picasso collaborated with printmaking brothers Aldo and Piero Crommelynck producing hundreds of etchings. These series are crucial for understanding the depth and chronological nature of Picasso's prolific printmaking career.

To delve deeper into Picasso's printmaking career, explore our article The Master of Printmaking: Pablo Picasso's Legacy in the World of Print.

The value of Picasso prints depends on factors such as condition, provenance, and several other considerations. Prints based on Picasso’s famous paintings, like La femme qui pleure, I, derived from his Weeping Woman (1937), are often valued at a premium, as is a common trend with blue chip artists. Another example is the Saltimbanque Suite, which carries themes from Picasso's Rose Period. Works from the Vollard Suite, created using aquatint to achieve a painterly effect, are also highly sought after, particularly those featuring his lovers and muses, echoing his renowned paintings.

The printing process also contributes to a Picasso print’s value, as Picasso personally collaborated with various publishers on his etchings, lithographs, and linocuts. Unlike artists from the American Pop Art era who often worked with assistants, Picasso’s prints are believed to bear more of the artist's personal touch, making them even more desirable. Picasso's top-selling print in 2023 was Le repas frugal, which fetched just over £3 million at Christie’s. In 2024, the highest-valued Picasso print to date is La Minotauromachie (1935), which sold for £945,000 at Christie’s in March.

Picasso's market cap, representing the current market value of all works that have entered the public market, is estimated to be around £10 billion. While there have been mild fluctuations in sales patterns, since 2020, Picasso’s market for paintings and prints has seen an upward trend, peaking in 2021. Despite these dynamics, the current compound annual growth rate (CAGR) for Picasso prints remains relativley positive although varies from print to print and is measured over an extended holding period. From a liquidity perspective, multiple Picasso works are often offered and sold in single auctions with strong sell-through rates, indicating sustained demand and the likelihood of finding a buyer with the right sale and market timing.

Picasso prints are highly sought after in 2024 for their historical significance and enduring market value. As a pivotal figure in Modern art, Picasso's expertise in various printmaking techniques continues to influence Contemporary art. Despite market fluctuations, his strong auction presence and institutional recognition make his prints both culturally significant and a sound investment. Here are the works we expect to trend in 2024:

Femme Au Fauteuil: At the end of World War II, after the liberation of Paris, Picasso began experimenting with lithography at Fernand Mourlot's studio. This period is known for his portraits of Françoise Gilot, his then-lover. The print depicts Françoise seated in a coat she was often photographed in, marking Picasso’s early exploration of cubism. Originally intended as a five-colour lithograph, Picasso simplified it, continuing to rework the plates to create new images. Femme au fauteuil No. 1 (d'après le rouge), appeared at Phillips in 2023, selling for £59,220 with fees. This print is on our watchlist for its highly sought-after depiction of Françoise and the trace of Picasso’s hand evident in the complexities of its early lithographic process.

Minotaure Aveugle Guidé Par Une Fillette II: This piece belongs to Picasso's La Suite Vollard and represents some of his earliest print work from the 1930s, when he began experimenting with sugarlift aquatint. Known for featuring Picasso's initial interpretations of minotaurs and mythical creatures, the variations of women in this series are thought to be inspired by his young relationship with Marie-Thérèse Walter. The work last sold in Germany for £13,212, with a global sales history spanning Europe, the United States, and the United Kingdom, demonstrating its widespread appeal and liquidity.

Portrait De Jacqueline De Face II: This Cubist and Surrealist portrait of Picasso's second wife, Jacqueline Roque, was created using linocut, marking a departure from Picasso's earlier monochrome printmaking. It showcases one of Picasso's first experiments with using a single linoleum block for the entire edition, carving new details as each colour was added, building up to the final print. Starting with the lightest colours and finishing with the darkest, Picasso achieved depth, texture, and fluidity. This technique became his preferred method, exemplifying his mastery of printmaking. Last sold in 2022 as an artist proof, this work is expected to retain its value due to its medium, unique production method and subject.

Authenticating a Picasso print can be a complex process, as the artist’s extensive body of work has been subjected to numerous forgeries. One of the most reliable ways to verify the authenticity of a Picasso print is through the Picasso Authentication Board, managed by his heirs. However, it’s important to note that there is often a long waiting list for authentication requests due to the high volume of inquiries. There has also been variation among Picasso's heirs in terms of who authenticates works, and many auction houses will accept works verified by different heirs, as well as some that have not undergone official authentication. However, the print should be listed in one of Picasso's catalogue raisonnés. For more detailed insights into the history of Picasso's authentication board and the catalogue raisonnés, refer to our Picasso Seller's Guide. Due to the high prevalence of forgeries in Picasso’s market, purchasing from a trusted source–especially for Picasso prints–is highly recommended. Reputable dealers or brokers can offer valuable expertise and help ensure you're acquiring a genuine work.

Professional experts typically prefer to hold a Picasso print in hand to verify several important factors. They will examine the paper used, ensuring it matches the type of paper Picasso was known to work with during the specific era of creation. Experts also analyse whether the motifs in the print correspond to Picasso’s artistic themes from that time, and if the print type aligns with the experimental printing techniques he used during that period, such as etching or lithography. Picasso often didn't number his works and his signature was usually incised into the printing plate. Provenance is also crucial, with experts tracing the print back to the publishers with whom Picasso collaborated. Finally, Picasso’s signature can vary depending on the time period, and a specialist will be able to determine if the signature is authentic, as Picasso often altered his signature over the years.

When considering the purchase of a Picasso print, evaluating its condition is crucial, as prints created in the 19th and 20th centuries are often susceptible to damage. Picasso’s earliest print works, in particular, may exhibit signs of wear due to their age. Given the fragile nature of paper as a medium, it is essential to assess the artwork carefully. A detailed condition report should be requested before buying, as the way the piece was stored or displayed by previous owners can significantly impact both its appearance and value.

Common issues to look for include foxing, which appears as brown stains on the paper caused by humid conditions, and light staining or fading, which can be irreversible. Damage from acid mats, glues, and mounting can often be treated but may leave minor stains. Additionally, ensure the integrity of the sheet–tears and creases can usually be repaired, but a print that has been cut is much harder to restore. Consulting a professional expert to understand what damage can be treated and what is permanent is advisable when purchasing a Picasso print, as this will help preserve its value and ensure a wise investment.

For tips on maintaining your print’s condition post-purchase, refer to MyArtBroker's guide to caring for your print.

When purchasing a Picasso print in 2024, there are several avenues to explore, including auction houses and private sales. While auction houses offer a theatrical experience, they come with a buyer’s premium fee of up to 25%, along with additional costs for shipping, storage, and insurance. The competitive nature of active bidding can drive prices higher than expected, and you may have to wait for the right piece to appear in the auction cycle.

Alternatively, platforms like MyArtBroker offer a more streamlined and cost-effective approach. Live Trading Floors like ours eliminate the buyer’s premium and hidden costs, providing a wider range of sellers and a more personalised experience. When purchasing a Picasso print especially, it's essential to partner with a platform or art expert who not only understands the market but also has expertise in authenticity, condition, and provenance, and how these factors specifically relate to Picasso's work.

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