Several paintings that were auctioned off for millions of euros were sold for ridiculous amounts at the time.
Here are some examples of “lost” artworks that made their owners millionaires:
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Portrait of a Young Man – Rafael: This painting was purchased in New Jersey for only 7 dollars in the 1970s. The buyer, unaware of its true value, kept it in their basement until an expert identified it as an authentic work by the painter, valued at over 40 million dollars.
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Untitled – Jean-Michel Basquiat: It was sold at Christie’s auction house to Emily and Jerry Spiegel for 19,000 dollars in 1984. In May 2017, the painting was auctioned at Sotheby’s and sold to Japanese art collector and entrepreneur Yusaku Maezawa for 110.5 million dollars, far exceeding the previous estimate of 60 million dollars.
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The Cottage Snatcher – Vincent van Gogh: An art dealer bought this small painting at a flea market in 1960 for about 100 dollars. Decades later, an investigation revealed it to be an authentic Van Gogh work, worth between 14 and 20 million dollars on the market.
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The Dance – Henri Matisse: In 1952, a version of this work was sold for 15,000 dollars, a significant sum at the time. However, today it is estimated to be worth over 100 million dollars, reflecting Matisse’s increasing value in the world of contemporary art.
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Untitled – Jackson Pollock: A Pollock piece was sold at a garage sale for only 5 dollars. A critic who saw it identified it as a genuine Pollock, and after authentication, it became a coveted item in the art market with an estimated value in the millions of dollars.
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The Basilica of St. Peter – Giovanni Paolo Panini: This painting was bought at a flea market for only 300 dollars. An art specialist saw it and recognized its importance, selling it at an auction for over 1 million dollars.
- The Queen’s Ambassador – Holbein: This work was found in a warehouse after being forgotten for decades. It was purchased for a symbolic sum at an auction, with no one realizing it was a Holbein piece, currently valued in millions of euros.
For Ferrán Teixidó, CEO of cuadrosantiguos.es, a company specializing in valuation, sale, and auction of paintings, these situations are more common than one might think: “Many families own inherited paintings that they do not know belong to a specific author or era, and they are surprised when they request an expert appraisal to sell their work.” If you want to appraise, sell, or auction a painting, this Spanish company, specialized in the art world, may be the best option to become a millionaire with forgotten attic paintings.
Referrer: MiMub in Spanish
