Painting bought for $5.....re-sells for over 50K

[dave nz]

An unsigned painting bought for less than $NZ5 ($A3.96) at a bric-a-brac shop has fetched more than $NZ51,000 ($A40,352) at a New Zealand art auction.

The painting is believed to be the work of Canadian artist Lawren Harris, a founding member of the noted Group of Seven artists.

"We're not certain whether it is going to go back to Canada or not," Aesthete Gallery director Grant Bezett said.

The winning phone bid was from New Zealand, he said.

He would not know until Tuesday whether it had been bought for return to Canada.

"We had a lot of interest from Canadians," he said.

Harris' work changed completely between 1910 and 1935, but in the early years he painted in the impressionist style.

It was thought the painting was completed around 1914 in Algonquin National Park.

Mr Bezett said his client was pleased with the selling price: "Turning $5 into $NZ50,000 ($A39,561) is not bad: I think they were pleased with it".

He said before the auction that the oil painting was highly consistent with Harris' style and subject matter.

"Technically and artistically it is very competent and confident," he added. "It is completely original, including the frame, so I'm very confident about its provenance."

The painting was in its original frame, with a label on the back stating that it was framed in 1941 by Stedman's Book Store in Brantford, Ontario, where Harris was born.

The current owner was told that it came from the estate of an Ontario woman who received it as a wedding gift and brought it with her when she moved to New Zealand.

[bdgear]

nice $5 investment

[patswin]

jeez why can't that happen to me lol

[bdgear]

Originally Posted by patswin

jeez why can't that happen to me lol

it did you won a 20k superbowl trip i would say that is pretty lucky.

[Mendoza Line]

Did anyone see that story last week where a British woman was cleaning out the attic of her deceased sister and getting rid of/selling stuff? She found an 18th-century Chinese vase, thought it might be worth something. It sold at auction for $93-million.

[bdgear]

how is a vase worth 93 million?

[Mendoza Line]

I have no idea. Especially when it relatively not that old.

She had it appraised and was told she might get $2 million for it. $93 million is the highest ever paid for a vase. Apparently, the market is up.