Jean-Michel Basquiat purchased for $200 sells for $12,000,000!
Pablo Picasso painting purchased at yard sale hammers for $8.9 Million!
Newly discovered work by Chagall found in barn in upstate New York estimated to bring over $5 million dollars at auction!
Many have read the stories, have watched Antique Road Show, and then go out to estate sales, yard sales, and small auctions, looking for the next headline making art jackpot - And although it happens the fact is that chances are slim.
But, let’s say you find a piece that “looks right” to you – then what?
In order to get the payout, you must prove that the piece is real and that is done by establishing provenance, analysis of the piece, finding reference of the piece.
We have two pieces that are being presented at our upcoming World of Art Auction that provide an insight into what steps are taken to establish a piece as authentic and get the best monetary return for our consignors.
1. “Queen Henrietta” attributed to Sir Peter Lely
This piece was in the back of a closet wrapped in a cloth along with a receipt from the 1950s.
Henrietta Maria of France (French: Henriette Marie; 25 November 1609 – 10 September 1669) was queen consort of England, Scotland, and Ireland as the wife of King Charles I. She was mother of his two immediate successors, Charles II and James II and VII. Contemporaneously, by a decree of her husband, she was known in England as Queen Mary, but did not like this name and signed her letters "Henriette R".
TIME & LOCATION:
Both Henrietta and Lely lived during the same period, and in close geographic locations.
Paint was examined under both magnification and with a black light for fluoresce. The results concluded that the material used is consistent with material from the period.
The receipt led to the following facts.
Walter Ephron operated the Ephron Gallery at 123 East 57th Street in New York City.
Mr. Ephron grew up in Vi enna, where his father and an uncle operated art galleries. He later served in the Austrian Army in World War I. He lived in Paris and Vienna, and after the French defeat in 1940 made his way through Spain to the United States. He opened the Ephron Gallery soon afterward.
The painting was removed from France, taken to safe storage under control of Great Britain. In the care of Beverly Smyth and Son of Dublin, Ireland. From Ireland the storage and shipping label show this piece being shipped to the United State via; “Denny Fitz Patrick”, C/O Bankers Trust of Madison Avenue and 57th Street, New York City. From possession of “Mr. Fitz Patrick” there is a gap in the record till the piece appears on the receipt of sale from the Ephron Gallery of 57th Street, New York City, dated January of 1951. This receipt recorded the purchaser as Julius Friedman and was kept with the piece when it was passed to his son and heir J. Friedman of New York.
Tomorrow we will present the other discovery -
Questions? Please contact us at (845)372-4787 or by email at firstname.lastname@example.org