When you are competing and considering to bid on an artwork on auction that you think
is a tremendous deal and there is a question on whether the piece is an original for the
reason that on the whole …
Auction Houses and Galleries have terms and condition that strongly encourages
in-person inspection of items by the bidder. Furthermore, statements by Gallery
or Auction House
regarding the condition of objects are for guidance only and should not be relied
upon as statements of fact, and do not constitute a representation, warranty, or
assumption of liability by them. All the lots offered are sold “AS IS”.
There are a couple of key scenarios that savvy art shoppers should be looking at, and
with the aid of a knowledgeable Art Adviser which can help discern and identify an art
purchase with best confidence. It is the ‘floor price’ and the ‘attributed to’
levels of risk and market confidence that need to be examined. In the art world, “Floor
Price” and “Attributed To” represent two very different levels of risk and market
confidence. Given your focus on 20th-century masters, understanding this gap
is key to deciding whether to pursue formal authentication for your piece.
Let’s consider two great artists Bernard Buffet and Pablo Picasso for this
example that roughly have similar floor and attributed values for signed drawings
and singed lithographs. In this article we’ll examine the example which of a hand
drawn pencil sketch…
- The Floor Price (The “Known Quantity” which means it is confirmed 100% by
the artist because of documentation)
The floor price is the minimum entry point for a confirmed work by the artist. For
Bernard Buffet, the floor is usually set by his high-quality lithographs (prints).
- Price Range: $2,000 – $4,500
- What you get: A piece that is 100% accepted as being produced by Buffet’s
studio, often hand-signed and numbered. - The Logic: You aren’t paying for rarity; you are paying for a “certified brand
name.” Your $2,000 figure is exactly at this floor level.
- “Attributed To” (The “Qualified Gamble” which means you are almost sure it is
by the artist, but it is missing or lost some paperwork and documentation)
This designation of attributed is used when a work has the “look and feel” of the master
but lacks a definitive paper trail (provenance) or a formal entry in the Catalogue
Raisonné.
- Price Range: $3,000 – $8,000
- The Logic: The price is higher than a print floor because it is a unique work (not a
multiple), but it is lower than a “Fully Autograph” work because of the risk. - Market Behavior: Auction houses use this term to protect themselves legally. If an
expert eventually confirms it, the value instantly triples. If it’s debunked, it drops to the
value of “decorative art” (~$500). Sometimes the art starts bid a price close to (~$500)
which is where a good deal might happen.
- Fully Autograph (The “Inventory Goal” the holy grail of the acquisition with the
best certifications)
This is a work that is definitively by Bernard Buffet, backed by forensic evidence or a
COA from the Garnier estate.
- Price Range for Drawings: $10,000 – $40,000
- The Logic: Collectors are paying for the certainty that every “thrown-on” line was
made by Buffet himself.
Sometimes your art might be in what they call a ‘Swing State’ position which means
after strong analysis you believe the piece is a ‘known quantity’ to currently have been
priced at the Floor ($2,000) but with the technical features of a ‘Fully Autographed’
work. It really looks like an ‘Inventory (for example, unique pencil, “thrown-on” speed,
consistent sheen, it check all the boxes to being the 100% goal). All you need is to get it
verified at your own expense which of course has risk.
If you label it… Estimated Market
Value Why?
“Buffet Lithograph” $1,500 – $2,500 It’s a multiple; widely available.
“Attributed to
Buffet” $4,000 – $7,000 It’s a unique drawing but lacks a forensic
“stamp.”
“Original Buffet
Drawing” $15,000 – $30,000 Confirmed 1-of-1 by a master of the
School of Paris.
Let’s say that because your work shows no edition numbers and has that specific pencil
sheen, it is technically “too good” to be a $2,000 floor-price print.
If you are looking at it for $2,000, you are essentially buying a “lottery ticket” that has
already passed the first few technical tests (sheen, paper tone, line velocity). It may be
the ideal type of acquisition: buying at the “print floor” and using a forensic report to
move it into the “fully autograph” category.
**What if the Gallery or Auction House is considering the artwork “in the manner
of” and it looks terrific and the possibility of something technically “too good” to
be at floor or attributed price?
“In the manner of” is a fascinating category—it’s essentially the art world’s way of
saying, “This looks exactly like a Buffet, but we can’t prove he even touched the paper.”
If you consider this a “terrific” version of that, it means the quality is so high that it could
easily fool a casual observer, yet it lacks the definitive provenance or “spark” that makes
it a primary work. It could be an excellent purchase nevertheless and you would just
need to make the investment to verify.
- The Pricing Gap: “Manner of” vs. “Floor”
In the 2026 market, the financial difference between these two labels is surprisingly
distinct:
- The Floor ($2,000): This is the “safe harbor” price. It assumes the piece is a
known, authentic multiple (like a hand-signed lithograph). You are paying for the name
and the certainty of the edition. - “In the Manner of” ($300 – $1,200): This price is actually lower than the floor.
Why? Because the market treats it as a decorative object rather than an investment.
Even if it’s a “terrific” drawing, without the “By” or “Attributed to” label, it loses its
pedigree. - The “Attributed to” Sweet Spot ($3,000 – $7,000): This is where the drawing
might currently sit technically. It’s better than “manner of” because the quality suggests
it’s likely original, but it hasn’t reached the $15k+ “Fully Autograph” status yet.
- What makes a “Terrific” Manner-of Drawing?
A high-quality imitation usually nails the surface style but misses the subconscious
habits.
- Surface (The “Terrific” part): The spiky hair, the melancholy eyes, and the jagged
signature are all perfect. It looks great on a wall.
- Subconscious (The “Manner of” tell): Buffet’s “thrown on” speed is his hardest
trait to mimic. For example, an imitator often spends too much time making the lines
look “spiky.” If you look closely at the “fading” lines: - Original: The fade is a result of physical speed (the pencil leaving the paper).
- Manner of: The fade is often “faked” by slowly lifting the pencil or shading it out.
- What would be the ‘Strategy for your Collection’?
Since you are spending the time analyzing, and are get some help from an art advisor,
your eye is your best asset.
- The Gamble: If you buy/hold this for $2,000 as a “terrific manner of,” you are
technically overpaying for a decorative sketch. - The Opportunity: If the “thrown on” of the piece is truly consistent and high-
speed, you aren’t looking at “manner of”—you’re looking at a misidentified original.
So what is the Verdict?
If you truly believe it’s “in the manner of,” $2,000 is high. You’d want to pay closer to
$800.
However, if that pencil signature has the metallic sheen and the “snap” of a fast hand,
it’s far more likely to be an “Attributed to” work. In that case, $2,000 is a steal, as a
forensic report could easily validate it as a unique drawing worth 5x to 10x that amount.
Are Picasso values similar in these scenarios?
While the “scenarios” of Floor Price vs. Attributed To vs. Original are the same in
principle, the financial stakes for Picasso are drastically higher than they are for Bernard
Buffet. The “Picasso Premium” means that moving from an “Attributed” status to an
“Original” status can shift the value by hundreds of thousands, if not millions, of dollars.
Picasso Market Comparison (2026 Estimates)
Category Bernard Buffet
(Clown)
Pablo Picasso
(Sketch)
The “Picasso Difference”
Floor Price $2,000 – $4,500 $8,000 – $30,000 A “budget” Picasso is still more expensive than a
mid-tier Buffet.
Attributed To $4,000 – $8,000 $50,000 –
$150,000
The market is much more cautious/expensive with
“possible” Picassos.
Fully
Autograph
$15,000 –
$40,000
$250,000 – $1M+ Unique drawings by Picasso are blue-chip assets.
- The Floor Price (The “Entrance Fee”)
Fo, the floor is set by his late-career prints and ceramics.
- Picasso Floor: You can find hand-signed lithographs or Madoura ceramics in the
$5,000
Buffet Floor: You can enter the market with a hand-signed lithograph for $1,500 –
$2,500.
- Takeaway: If you find a “Picasso drawing” for $2,000, the market assumes it is a
reproduction or a “manner of” piece. If it were even remotely considered
“Attributed to,” it would likely be priced closer to $50,000. A Picasso is very hard
to get officially authenticated by the estate so many Picasso’s on the secondary
market rely heavily on the designation of attributed which is used when a work
has the “look and feel” of the master but lacks an absolute paper trail
(provenance) or a formal entry in the Catalogue Raisonné. A collection of COA’s,
receipts and the being bought form a reputable Auction House or Gallery is
required.
- The “Attributed To” Gap (The $40 Million Leap)
As of April 2026, the art market recently saw a “Picasso-Attributed” work jump from a
$12,000 estimate to a $40 million sale at a New York auction.
- This illustrates the extreme volatility of Picasso attributions. If a piece has the
“DNA” of a Picasso but lacks a COA, it will still draw massive speculative bidding that
Buffet simply doesn’t command. - For your Picasso Crown of Thorns drawing, the difference between “Attributed”
and “Autograph” is likely the difference between a high-five-figure and a high-six-figure
valuation.
- The “In the Manner of” Trap
Because Picasso was the most famous artist of the 20th century, there are thousands of
high-quality “in the manner of” sketches.
- Picasso: These are often sold for $500 – $1,500 as decorative objects. Because
the gap to a real one is so huge ($500k+), “manner of” Picassos are almost never
“mistaken” for the real thing by experts. - Buffet: Because the price gap is smaller ($2k vs $20k), it is much more common
to find an “original” hiding in a “manner of” pile.
So what is the Summary for your Inventory in this analysis?
For Picasso, a COA from the Picasso Administration (the estate) is the only way to
reach the top-tier valuation.
For the Buffet clown you’re looking at:
- At $2,000, you are buying at the Buffet Floor.
- If you can prove it’s a unique drawing, you’ve jumped to the Buffet Premium.
- If this were a Picasso with the same “thrown-on” pencil lines, a $2,000 price tag
would be a red flag that it’s a copy; for a Buffet, it’s a plausible (and potentially very
profitable) “sleeper” find.