"I AM WRITING FROM BED, I AM SICK. I HAVE THE GRIPPE AND LIVER PAIN, IT'S OKAY. MY CHILDREN CLAUDE AND PALOMA ARE ARRIVING SUNDAY MORNING FOR VACATION": AUTOGRAPH LETTER SIGNED BY PICASSO

PICASSO, Pablo. Autograph letter signed. Cannes, December 21, 1955. One leaf, measuring 8 by 10-1/2 inches, writing in ink on recto; handsomely floated, matted and framed with a later print of his self-portrait, entire piece measures 24 by 17-1/2 inches. $14,500.

Autograph letter signed by Pablo Picasso, written to his friend the banker Max Pellequer.

The letter, written from Picasso's studio ("La Californie") in Cannes, reads in translation: "My dear Max, I sent the check and the sheets you asked for. This is for Quartier de Furnas (my sculpture studio) but the other (green) is for Mauruches La Galoise, the French house. [Picasso continues at top]. For more details you need to write to the notary from Golfe-Juan, who you met at my house. I am writing from bed, I am sick. I have the grippe and liver pain, it's okay. My children Claude and Paloma are arriving Sunday morning for vacation. I am very happy. I embrace you. Your friend Picasso."

The villa La Galloise on the hill of Mauruches in Vallauris, France was the home of Pablo Picasso from 1948 to 1955. During his time there, he worked with the Madoura ceramics studio and produced a number of sculptures and paintings, including "War and Peace," one of the period's major works. The recipient of this letter, Max Pellequer, was a French banker who co- founded and later directed the Banque Nationale du Commerce et de l'Industrie. Over several decades, Pellequer's astute financial advice and shrewd stewardship of Picasso's sprawling assets enabled the artist to become a millionaire. Pellequer was also a kindred spirit, a serious art collector who acquired artwork by artists like Picasso, Degas, Cézanne, Gauguin, Matisse, Miró, Modigliani, Dufy, and others. Picasso purchased works from Pellequer's collection, and the artist designed a bookplate for his beloved friend. During the Nazi occupation of France, Pellequer is believed to have helped save some of Picasso's work by hiding it. This is no small accomplishment when one considers it would have probably been classified as "degenerate" by the Nazis and otherwise destroyed.

Fine condition.