Monday, November 09, 2015

Curious Case of a Picasso and a Koch

A Picasso picture of a cabaret artist, which carries a second painting on the reverse, sold for $67.45 million in New York Thursday, scoring a windfall for American billionaire Bill Koch. 
Mr Koch, who is ranked 307 on the Forbes 400 richlist has a net worth of around $2.1 billion.  
The sale was the top lot of the season so far, proving a savvy investment for the Republican party donor who paid just $3 million for the canvas in 1984 and later discovered he got two for the price of one with a second painting on the reverse. 
Sotheby's had valued the canvas, 'La Gommeuse,' at $60 million. It was painted in Paris in 1901 when the artist was just 19 years old and grieving the suicide of a close friend.
But read about the secret in this painting that made it even more valuable! Click here.