Picasso was exceptionally prolific throughout his long lifetime. The total number of artworks he produced has been estimated at 50,000, comprising 1,885 paintings; 1,228 sculptures; 2,880 ceramics, roughly 12,000 drawings, many thousands of prints, and numerous tapestries and rugs. At the time of his death many of his paintings were in his possession, as he had kept off the art market what he did not need to sell. In addition, Picasso had a considerable collection of the work of other famous artists, some his contemporaries, such as Henri Matisse, with whom he had exchanged works. Since Picasso left no will, his death duties (estate tax) to the French state were paid in the form of his works and others from his collection. These works form the core of the immense and representative collection of the Musée Picasso in Paris. In 2003, relatives of Picasso inaugurated a museum dedicated to him in his birthplace, Málaga, Spain, the Museo Picasso Málaga.
The Museu Picasso in Barcelona features many of his early works, created while he was living in Spain, including many rarely seen works which reveal his firm grounding in classical techniques. The museum also holds many precise and detailed figure studies done in his youth under his father’s tutelage, as well as the extensive collection of Jaime Sabartés, his close friend and personal secretary.
Several paintings by Picasso rank among the most expensive paintings in the world. Garçon à la pipe sold for US$104 million at Sotheby's on 4 May 2004, establishing a new price record. Dora Maar au Chat sold for US$95.2 million at Sotheby’s on 3 May 2006. On 4 May 2010, Nude, Green Leaves and Bust was sold at Christie's for $106.5 million. The 1932 work, which depicts Picasso's mistress Marie-Thérèse Walter reclining and as a bust, was in the personal collection of Los Angeles philanthropist Frances Lasker Brody, who died in November 2009.The previous auction record ($104.3 million) was set in February 2010, by Alberto Giacometti's Walking Man I.
As of 2004, Picasso remains the top ranked artist (based on sales of his works at auctions) according to the Art Market Trends report. More of his paintings have been stolen than those by any other artist; the Art Loss Register has 550 of his works listed as missing.
The Picasso Administration functions as his official Estate. The U.S. copyright representative for the Picasso Administration is the Artists Rights Society.
In the 1996 movie Surviving Picasso, Picasso is portrayed by actor Anthony Hopkins. Picasso is also a character in Steve Martin's 1993 play, Picasso at the Lapin Agile.