A MAN has revealed a painting his dad snapped up for £89 more than 40 years ago has sold for £23,000.
The son, who did not want to be named, knew his father had good taste in work as an arts dealer – but didn’t expect it would pay off like this.
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The late-father had nabbed up the painting in Edinburgh in 1989 for £89 and when he died his son inherited it, and the rest of his collection.
But the son was “unaware” of the importance of the piece – or that it would sell for £23,000.
It turned out it was a Don Quixote sketch, which was painted in 1961 by abstract expressionist Julio Pomar.
Art expert Dominic Cox said even knowing that information he thought the piece could sell for between £5,000 and £8,000.
He never imagined it would sell for a whopping 258 times more than its original value.
Dominic called the sale “absolutely crazy”.
The art expert continued: “The vendor inherited the painting from his father, a Scottish art dealer, who bought it in Edinburgh in 1989 for £89.
“He and his wife had no strong feelings about the picture and they were unaware of Pomar’s importance – or the potential value.
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“Our initial assessment was that it could make £5,000 to £8,000 but when the auction catalogue was published things went absolutely crazy.”
An antiques expert recently revealed Brits could have £2,000 in hidden treasure in their attic.
Experts believe the average UK attic hides valuables totalling a staggering £1,922, and around £33billion worth of “junk” lurks in our cupboards and drawers.
And it’s not unusual for people to find hidden treasure in their own, or their loves ones’, homes.
One person recently found a hidden gem that sat in plain sight collecting dust for 89 years could be worth £60,000.
Another woman discovered a rare hidden treasure in her mum’s socks.
A comic collector found something in the walls of his own home when he was renovating – and it sold for £175,000.
And a dad-of-two is also hoping his collection of Pokémon cards will see him earn thousands at auction.
Meanwhile, a number of old mobile phones and toys have been selling for wild prices – and some people may unknowingly have them stored away.
Antiques expert Charlie Ross, who regularly appears on Bargain Hunt and Flog It!, said: “People often think it’s just vintage items that are worth money, but even stuff from the 1990s could make you a bob or two now.”
