Costco sells Picasso 'doodle'

But on Wednesday, one buyer nabbed a far swankier item from the discount warehouse's Web site: an original crayon-on-paper drawing of a face by 20th century master Pablo Picasso. The work, signed and dated Nov. 29, 1970, by the artist, comes with a handwritten and signed declaration of authenticity by Picasso's daughter Maya. The 9-inch by 13.75-inch framed image sold for $39,999.99, according to the site.

Orlando, Fla., art dealer Jim Tutwiler, who sold the artwork to the retail giant's Web site, has described the piece as a "doodle" that Picasso likely sold for goods or services.

While Costco is best-known for deals on bulk items such as paper towels and chicken wings, its Web site offers a range of goods from consumer electronics and appliances to jewelry and apparel. And art.

Tutwiler, who has been selling art through Costco for a decade, said collectors can find bargains at the retailer because its markup is one-tenth that of traditional galleries. The doodle marked the second Picasso that Tutwiler has sold through the retailer; the first went to a buyer in San Francisco for $35,000 in November. Art aficionados will find other works by famed artists among Costco's online inventory as well. These include, at the moment, a limited-edition hand-signed and pencil-numbered lithograph from an original gouache by Salvador Dali that's going for $1,419.99.

Picasso, a Spanish-born painter, printmaker and sculptor, is best known for his blue and pink periods--during which, as their names suggest, the artist primarily painted in those two colors--and his Cubist works.

And while some might scoff at the notion of purchasing fine art from a discount retailer, the savvy Picasso buyer could receive a rebate of up to 2 percent if the work was charged to a Costco-American Express card.