Woman Can make $50 mil off of $5 Yard Sale Painting
source: http://www.cbc.ca/arts/artdesign/story/2008/10/29/pollock-sells-in-toronto.html
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In 1992, Teri Horton bought a painting as a joke in a thrift store and nicknamed it "Teri's Find." Now, after forensic identification, it is now on sale in Toronto with an asking price of $50 million dollars as a Jackson Pollack original.
From source:
"A Jackson Pollock painting, bought for $5 in a thrift store, is for sale at a Toronto gallery with an asking price of $50 million US.
The painting, made famous by the 2006 PBS documentary, Who the #$%& is Jackson Pollock, is being exhibited for the first time at Gallery Delisle in east Toronto from Nov. 13-27.
Teri Horton, a 76-year-old retired truck driver, bought the painting in 1992 as a gag gift, not knowing who the painter was at the time. Since the painting, nicknamed Teri's Find, was authenticated forensically she has refused all American offers and sent it to Canada to find a foreign buyer.
The painting is a 1.7-by-1.2 metres canvas with red, yellow, grey and blue paint dripped on it.
When American auction houses denied Horton visual authentication of the painting, she turned to science for validation.
"I've been through this with the U.S.A. market and they turn their back on forensic science and they won't take a stand for the painting," Horton told CBC News on Tuesday from her mobile home in Costa Mesa, Calif.
"They don’t deserve to have it. I want an international buyer to have it because of that," said Horton.
Since receiving forensic authentication, Horton has received and refused offers from American buyers that she describes as unfair.
In 2006, one of Pollock's works sold for about $140 million, the highest sum ever to be paid for a painting. Horton's painting was valued at $50 million by experts in the documentary."
(more at link)
From source:
"A Jackson Pollock painting, bought for $5 in a thrift store, is for sale at a Toronto gallery with an asking price of $50 million US.
The painting, made famous by the 2006 PBS documentary, Who the #$%& is Jackson Pollock, is being exhibited for the first time at Gallery Delisle in east Toronto from Nov. 13-27.
Teri Horton, a 76-year-old retired truck driver, bought the painting in 1992 as a gag gift, not knowing who the painter was at the time. Since the painting, nicknamed Teri's Find, was authenticated forensically she has refused all American offers and sent it to Canada to find a foreign buyer.
The painting is a 1.7-by-1.2 metres canvas with red, yellow, grey and blue paint dripped on it.
When American auction houses denied Horton visual authentication of the painting, she turned to science for validation.
"I've been through this with the U.S.A. market and they turn their back on forensic science and they won't take a stand for the painting," Horton told CBC News on Tuesday from her mobile home in Costa Mesa, Calif.
"They don’t deserve to have it. I want an international buyer to have it because of that," said Horton.
Since receiving forensic authentication, Horton has received and refused offers from American buyers that she describes as unfair.
In 2006, one of Pollock's works sold for about $140 million, the highest sum ever to be paid for a painting. Horton's painting was valued at $50 million by experts in the documentary."
(more at link)
