Sunday, February 01, 2015
How to turn $5,000 into $5.2M in 18 months
The award for the most compelling market tale undoubtedly goes to the third highest-selling painting, a rediscovered John Constable landscape, Salisbury Cathedral from the Meadows (1831), that sold for $5.2 million, far exceeding its $3 million high estimate. The consignor had acquired the work at Christie's London in July 2013, and paid a mere $5,300 for it, but then set about getting the work authenticated as a Constable. (See Sotheby's Ratchets Up Price on Rediscovered Constable).
See the whole article by Eileen Kinsella here.
Do you think that the previous owner, who dished this out for $5K, is pissed off that he/she didn't do due diligence?
Subscribe to:
Posts (Atom)
