The renowned Spaniard, Pablo Picasso, was a prolific artist. He created hundreds of paintings and sculptures as well as drawings and sketches numbering in the thousands. (He is said to have settled restaurant bills by producing sketches on the spot.) a. What effect does the existence of this large body of work have on the monetary value of individual pieces of his art? b. Might his heirs suffer from being bequeathed too many of his works? As the heirs’ financial adviser, what strategy would you advise them to pursue in selling pieces of his work?
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The renowned Spaniard, Pablo Picasso, was a prolific artist. He created hundreds of paintings and sculptures...
Donald is an artist – he creates both sculptures and oil paintings. One of his paintings – he named it “Sex in the Country” – showed a farm setting, with several farm animals apparently engaged in sexual intercourse. He recently sold this painting for $50,000 through a local art gallery, to a wealthy art collector (Richard). Once Richard had possession of the painting, he took photographs of the painting, and had thousands of posters created using the photographs of the...