MADRID (Reuters) -A 1919 Pablo Picasso painting has disappeared in transit ahead of its display at a temporary exhibition in the southern Spanish city of Granada, prompting a police investigation, according to the foundation organising the exhibit.

The CajaGranada Foundation said in a statement late on Thursday that the missing piece – a small framed gouache titled “Still life with guitar” – was part of a larger shipment of artworks moved from Madrid to the Andalusian city for the exhibition “Still life. The eternity of the inert”.

The foundation confirmed on Friday that the painting, owned by a private collector and measuring 13 x 10 centimetres (5 x 4 inches), was insured for an appraised value of 600,000 euros ($700,000).

The shipment was delivered to the CajaGranada cultural centre

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