Downsizing? Determined to get rid of stuff no longer needed? Cleaning out a home or an estate? Stop! Know Before You Throw.
Just on the heels of the stunning, record-breaking sale of Paul Newman’s Daytona Rolex wristwatch, we have another auction record that recently fell hard at a New York City auction house. This one was in the world of fine art collecting. What was once lost is now found.
Found is a prestigious painting. To be exact, it is by one of the most famous individuals of all time, Leonardo Da Vinci. Fewer than 20 of Da Vinci’s artworks have been authenticated as being produced by him, and this painting, entitled Salvator Mundi, is from about the year 1500.
As the story goes, the Salvator Mundi was presumed lost in the late 18th century. It reappeared at auction in 1958 and sold for $59. That’s right, $59, as it was believed to be a copy and not the original. In 2005, it sold again to a group of art dealers for less than $10,000. It was in poor condition and required a great deal of restoration. By the time it reached Christie’s Auctions, the pre-auction estimates had placed the value at around $100 million.
After 20 minutes of spirited bidding, the auction hammer fell at the astounding price of $450.3 million—shattering the previous auction record of $179.4 million, paid in 2015, for the painting Les Femmes d’Alger, by Picasso.
While the chances of us finding a Da Vinci or a Picasso in our closet are slightly better than winning the lottery, many of us do have original fine art around our homes. It may be something we purchased over the years, or perhaps acquired when items were passed down from family members. As you can see, some are diamonds in the rough or they have appreciated remarkably. The key is to know what you have so you Know Before You Throw. Call me today, and let’s see if you are holding a treasure.
Jon Englund has more than 30 years of experience in appraising and liquidating personal property, jewelry, art, collectibles, antiques, furniture, printed items and more, as well as more than 15 years of experience in real estate. A Midwest transplant, Jon trained at New York University in appraisal studies.
For more information, call (480) 699-1567. You also can send an email to Jon@KnowBeforeYouThrow.INFO.