Much has been made these last two days of a lawsuit that reveals the Picasso Dora Maar being sold by Ted Forstmann’s heirs has been repaired. That information is included, of course, in the condition report.
That hasn’t stopped the press from trying to make a scandal out of the issue. One art market reporter asks:
“Should more of the painting’s history be disclosed before it changes hands for more money than the price of a jumbo jet?”
Except that a jumbo jet starts at $300 million for a 747 and nearly $400m for an Airbus 380 (the two planes generally considered jumbo jets.) Further down the transportation scale, Boeing’s barebones 737 goes for about $60m and an entry level Airbus sets you back just a little more.
Since we’re talking about Teddy Forstmann, a better comparison might have been to the cost of a Gulfstream private jet. Even there, you’d be looking at $38m for a G4, not the sexiest plane in the jet set. Either way, we’d expect anyone buying jets or top-flight Picasso’s to do their homework and send an expert to check it out before flying off.
