The Evansville Museum in Indiana corrected their misidentification of a glass piece of art held in storage for 50 years. The rediscovered artwork is a valuable Picasso original gemmaux work, created ... more 
The Evansville Museum in Indiana corrected their misidentification of a glass piece of art held in storage for 50 years. The rediscovered artwork is a valuable Picasso original gemmaux work, created by baking different pieces of colored glass, titled "Seated woman with Red Hat." Documentation associated with the piece incorrectly indicated it was by an artist named "Gemmaux" with a design inspired by a Picasso oil painting, and the work was kept in storage for decades. It wasn't until February when a New York auction house inquired about it, that the discovery was made. Museum director John Streetman said, "In the history of our museum, this is the most important moment." Unfortunately, the value of the piece makes it prohibitive for the museum to insure and secure the work, so it is now headed to New York to be privately sold most likely for millions of dollars. less 
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Tue, Aug 21, 2012 1:00 PM EDT