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Art Auction Shock: $1M Picasso Sells for Just $117 at Virginia Sale

Art Auction Shock: $1M Picasso Sells for Just $117 at Virginia Sale

A Picasso lithograph once valued at $1 million sold for just $117 at a Virginia art auction. The Silicon Review reports on the shocking sale that has collectors questioning how such a masterpiece could sell for less than a dinner out. A Pablo Picasso lithograph once valued at $1 million sold for just $117 at a Virginia art auction on Monday, a jaw-dropping result that has sent shockwaves through the art world and left collectors wondering how a masterpiece could sell for less than a restaurant dinner. The piece, "Visage aux Mains" (Face with Hands), a 1965 linocut print from a small edition of just 50, was expected to fetch between $600,000 and $1 million. Instead, it hammered down at a mere $117 after a bidding war that never materialized. The auction, held by a regional auction house in Richmond, failed to attract the high-net-worth collectors who typically drive prices for works by the Spanish master. The sale was conducted online with minimal promotion, and the piece was listed among hundreds of other lots with little distinction. "I couldn't believe my eyes," said Margaret Chen, a New York-based art advisor who watched the sale remotely. "A Picasso from a small edition, au...

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