Lladro 1970s #4732 THE ARTIST Factory Second VGC Figurine.

If an authentic figurine had a minor cosmetic blemish or failed strict factory quality controls, it was designated as a factory second. To prevent these from being sold at full retail price, the factory would physically scratch, grind, or omit the blue stamp entirely.

You can see on the base where the Lladro mark has ground virtually away, there is just a hint blue remaining.