A couple who bought plates at a second-hand shop for €4 have now sold them for a 1,700x markup, as the pieces were made by Pablo Picasso.
The plates were purchased at a second-hand brocante store in the Indre department (Centre-Val de Loire), however the owners believed they were worth more and had them appraised.
The verdict came back that the plates were authentic pieces by the celebrated Spanish artist, containing a stamp of authenticity from him on the back.
The tableware was made in 1956 at the Madoura workshop in Vallauris (Alpes-Maritimes), where Picasso often worked with owners Suzanne and Georges Ramié to produce ceramics and sculptures.
Auctioneers predicted the plates would sell for between €1,800 and €2,000 each.
Opting to sell the pieces, the couple placed them on auction at the Giraudeau auction house near Tours (Indre-et-Loire).
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They received €6,900 for the two plates, after one sold for €3,500 and the other €3,400.
The overall buy-price was more than €8,000 after the auction house fees were taken into account.
Rare pieces can sell for big money
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Picasso produced art at the workshop in Vallauris for over 20 years, producing a number of ceramics and sculptures.
The ceramics and tableware were often made in limited runs, not exceeding 500 copies, making the pieces valuable at auctions. Some however, are much rarer.
Prices for Picasso’s pieces made at the atelier have been increasing in recent years, with some plates selling for more than €10,000 each.
In 2018, a one-off ceramic called hibou gris, made in the workshop by Picasso, sold for nearly €2 million at a New York auction house.
