“It is not that we like Picasso that much as an artist. We toured the Picasso Museum in Barcelona last November and while his early work is on a par with Leonardo most of the art he produced when he became famous is truly awful.
Picasso put a thumb up to the world and jokingly took advantage of human greed to knock out art that others chose to value hugely. Still anybody can sell on their reputation, and in art once you have a reputation it is difficult to shake off. Brand value if you like!
There is also scarcity value in art once a painter is dead and can paint nothing more. Art can be characterized as a strange market but then actually attaching value to anything material beyond its utility value is peculiar.”
But what if you have a gold plate Picasso?