Redefining the Auction Experience
Fair Warning, a revolutionary new auction platform, auctioned Man Smoking a Pipe (1971), an incredible work on paper by Picasso
Fair Warning, the disruptive digital auction platform and members-only art community, announces that today it auctioned ‘Tête d’homme à la pipe’ (Man Smoking a Pipe) from 1971 by world-renowned contemporary artist, Pablo Picasso. Created during the late stage of Picasso’s career, the piece is widely regarded as the best drawing on paper from this period. With a winning bid of $7.78 million, the sale represents another milestone moment for the value of works on paper from this time.
The auction, which took place at 10pm BST/5pm EST on May 15th, was led by Jussi Pylkkänen, the former Global President of Christie’s. For the first time in Fair Warning’s history, bidding took a hybrid format, accepting bids from the room, telephones and via Fair Warning’s exclusive, members-only mobile app, which allows users to bid in real time from anywhere in the world.
Speaking on the sale, Fair Warning founder Loïc Gouzer noted, “Masterpiece is a term that has been so overused that it’s lost all meaning. But this really is a piece that represents the final peak of Picasso’s greatest works on paper, created during this final period of his life. It was a privilege to showcase and auction, and we have no doubt that the new owner will enjoy it for years to come.
As the company surpasses $57M in total sales, Gouzer added, “We set up Fair Warning with a commitment to bring art collecting back to its purest form. Away from the noise, the distraction, and the hype, this is about carefully curated, individual lots with incredible works of art. Think less, feel more – that’s the mission that drives us. With this sale, we have once again shown that our platform and our approach work for sellers and collectors alike.”
Fair Warning continues to challenge the conventions of traditional auctioneering, with this sale cementing its role as a catalyst for rethinking how art is discovered, valued, and collected in the digital age.
