The Seattle Post-Intelligencer reports on an authenticity flap that has emerged over Picasso drawings being sold by Costco Wholesale on its website.
Costco has pulled from its site the Picasso drawing “Picador in a Bullfight” that was listed for $145,999.99 when concerns were raised by Picasso’s daughter about the authenticity certificate that accompanies it. Costco CEO Jim Sinegal says that the company thoroughly researched the drawing’s authenticity, but “"that doesn't mean we're infallible."
Similar questions have been raised about two other Picasso drawings sold by Costco, and Sinegal said that if the artworks prove to be inauthentic, the customers will have their money refunded.
Costco has pulled from its site the Picasso drawing “Picador in a Bullfight” that was listed for $145,999.99 when concerns were raised by Picasso’s daughter about the authenticity certificate that accompanies it. Costco CEO Jim Sinegal says that the company thoroughly researched the drawing’s authenticity, but “"that doesn't mean we're infallible."
Similar questions have been raised about two other Picasso drawings sold by Costco, and Sinegal said that if the artworks prove to be inauthentic, the customers will have their money refunded.
- KC's View:
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We like the way that Sinegal is dealing with this issue, which is emblematic of how he deals with everything. He says 1) we did our best, 2) it is possible we may have screwed up, and 3) if we screwed up, we’ll fix it.
Which is why people trust Costco.
Picasso once said that “art washes away from the soul the dust of everyday life.” Sometimes we think that the goal of retailers like Costco – and others that include Wegmans, Ukrops, Dorothy Lane, Andronico’s, Starbucks - is to wash away the dust of everyday retailing.
Seems like a pretty good business model to us.
In fact, maybe we’ll adopt this as our new marketing slogan…
“MNB Washing Away The Dust Of Everyday Punditry”
