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Picasso painting bought in 25,000 'chunks'
14 May 2018 @ 23:50

A LATE-ERA Picasso painting was bought online by 25,000 individuals before being put on display in a Swiss museum.

The 1968 Buste de mousquetaire (pictured) has just been set up at Geneva's MAMCO museum, six months after its sale in what the gallery's director Lionel Bovier calls 'very unusual circumstances'.

Normally, M. Bovier explains, major works of art are acquired by sole investors, either private individuals or companies, and it is rare for owners to agree for them to go to completely unknown buyers.

But this time, the 58 x 28.5-centimetre painting was sold off in 40,000 'parts' via the Swiss auction site QoQa – the first time an online community has acquired a major work of art and, possibly, setting a precedent for future ownership of famous pieces.

This way, small investors can buy shares in a work of art, and it enables the piece itself to 'connect with the community', says QoQa founder Pascal Meyer.

Each of the 40,000 'chunks' of the Picasso was on sale for 50 Swiss francs (€41.83), and some buyers purchased two or more 'chunks', giving a total of 25,000 owners and a final total sale price of €1.67 million, or two million Swiss francs.



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