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ALS in French, signed “Picasso,” one page, 10.75 x 8.25, July 20, 1954. Addressed from Vallauris, a handwritten letter to his friend and financial advisor Max Pellequer, in full (translated): “Here are the 5 checks that you asked for. I will see you soon.” Picasso underlines the number in red pencil. In fine condition.
Banker and collector Max Pellequer was introduced to Picasso in 1914 by his uncle by marriage André Level. He quickly became one of Picasso's most important collectors and his financial advisor for over 30 years. Pellequer's interest in his art began as early as the 1910s when he purchased a Picasso bronze from the art dealer Ambroise Vollard. During the 1930s and 1940s, as Picasso's personal banker, he secured and enhanced the painter's wealth and allowed him to settle comfortably in the South of France. Picasso created a superb ex-libris on copper for him, bought him paintings including La Mer à L'Estaque by Cézanne (now in the Picasso museum), and offered him a few other works. Pellequer assembled a vast collection of paintings by the great masters of modern art: Degas, Raoul Dufy, Paul Gauguin, Fernand Léger, Henri Matisse, Joan Miró, Modigliani, and Maurice Utrillo, which are today preserved in the most important international museums.
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