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SPAIN/ FRANCE, DATED 1931 PABLO PICASSO, 1881-1973 Beautiful and large original drawing executed in red & blue crayon, being an image of what appears to be a court jester and signed "Picasso" at bottom. Picasso drew different sketches on the cover of a limited edition catalog of his works issued by Demotte Inc., New York, 1931, no. 156/800. Condition: The cover is detached from the catalog this exemplary item is in fine condition, framed and matted. The original catalog is included and is in a separate plastic folio. Notes: Ex. Andre Chenue SA, France. Demotte Gallery did a Picasso show in the middle of the depression and as a promotion (in order to entice buyers to come their show) they offered a hand drawn simple picture drawn by Picasso on the cover of each and every catalog they handed out. The staples in the catalog are oxidized and rusty and they match the exact length of each hole and distance between the holes in the signed cover. So it's logical and it looks like someone pulled the cover off the catalog, framed up the drawing facing front, and then tucked the catalog in the back of the frame and sealed it up. The printing in the catalog is typical vintage1930's and the cover itself is intact with the front and back remaining one sheet.