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Picasso on Costco
The wholesale retailer is selling an original drawing by Pablo Picasso for $129,999.99
August 12, 2005: 4:57 PM EDT
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NEW YORK (CNN/Money) - Along with household appliances and hardware, Costco is making a name for itself in the world of fine art.

The largest wholesale club operator in the U.S. is currently selling an original crayon on paper drawing by Pablo Picasso for $129,999.99 on its Web site.

The Picasso drawing "Atelier De Cannes," offered by art dealer Jim Tutwiler, is signed and dated from May 27, 1958 by Pablo Picasso. The work is authenticated by Picasso's daughter, Maya.

"I would be surprised if it stays on the site rest of the day," said Tutwiler.

Although Costco has offered art by Picasso in the past, this is by far the most expensive work to date. In January, Costco sold a Picasso for just under $40,000.

Costco made headlines last year when it began selling caskets in a handful of stores in the Chicago area and again in February when the wholesale retailer sold a yellow diamond ring for $180,000.

The retailer is also offering lithographs from other well known artists like Marc Chagall and Joan Miro for under $10,000 -- a relative bargain.

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