Another Fantastic Goodwill Find

On several occasions I have walked into thrift stores and have found items that were vintage collectibles and that I thought might have some worth to someone.  My finds include a Royal Delft Bowl, Some Replogle Globes, Moon and Stars Compotes, Asian Ivory Wall Hangings and even a vintage toy Kaleidoscope.  These have all sold for a nice profit and I am always on the lookout for the next “great find.”  Unfortunately, my luck has not been as good as the lady in North Carolina this past April.

Beth Feeback is an artist who bought two large paintings at the local Goodwill.  Her intent was not to make a profit on them, but to paint over them.  You see, large blank canvases can cost quite a bit of money to an artist.  So many artist buy used paintings on canvas and then recycle the canvas by putting their own artistic creations on them.  Usually this is a very smart move because the paintings you find at thrift stores are mostly done by amateurs or recreational painters.  However, not so in this instance.

When she got home, Ms. Feeback did what I, and just about anyone else, would have done.  She “Googled” the artist’s names and to her surprise found that one of the artists was not an amateur at all, but none other than Illy Bolotowski.  To a lot of people, including Beth, the name would have probably meant nothing if she hadn’t searched it.  But as it turns out, Illy Bolotowski was a Russian born abstract painter from New York.

The painting Beth was about to paint over was titled Vertical Diamonds and it is estimated that it will bring in some $20,000 - $30,000 at auction.  In fact, the painting will be auctioned off in September.  Not a shabby find at the Goodwill Store for Beth Feeback and a nice tidy profit of probably over $20,000. 

Sebastiano Ricci Long Lost Painting to be Auctioned

Sebastiano Ricci an Italian Baroque style painter was born in August 1659 in Belluno, Italy. His early career as an artist took a bad turn when at the age of 19 he was accused of trying to poison the mother of his unborn child. However, one of his benefactors intervened on his behalf and he was released, at which time he moved to Bologna and where he got his first commission to paint the Decapitation of John the Baptist by the Fraternity of Saint John of Florence. His career took off after that as he was commissioned by more and more churches, statesmen and others for works of art.

His painting, The Vision of Saint Bruno, which had been thought lost, will be sold at auction on November 20, 2008. The painting, which measures about 36 inches by 48 inches, is believed to have been painted around 1705 and once belonged to a European nobleman and most recently to an American family in Texas. Heritage Auctions, which will handle the sale of the painting, expects the painting of a robed Saint Bruno looking at angels in the sky to bring in over $600,000. Ricci, the artist who almost blew it by going to jail, passed away in 1734 leaving the world with some of the most beautiful paintings or his time, over forty of which reside in world class museums today.

Lucien Freud Not Recession Proof Either

Yesterday it was Andy Warhol’s painting that did not reach its pre-sale estimate at an auction at Sotheby’s. Today, a rare Lucien Freud painting of Francis Bacon failed to reach its pre-sale estimate of about $14 million. The painting, which has been described as an unfinished portrait of his friend and painted around 1956, sold for about $9 million at a Christie’s Auction. Based on previous sales, the price was a bargain for a Freud painting.

In an article I wrote in my June 23, 2007 Newsletter, I described a portrait painting sold at Christie’s auction of another of Freud's friends, Bruce Bernard. It set a record auction price for a living artist. And yet another painting titled Benefits Supervisor Sleeping sold in May of this year for $33.6 million, which was at the higher end of the pre-sale estimate. Both Warhol and Freud failing to reach pre-sale estimates has many questioning whether the slump will continue as stocks take a roller coaster ride and credit is at a low even for the wealthy.

Basquiat Painting to be Sold by Christie’s International in NY

On November 12, 2008, Christie's International in New York is going to auction off an eight foot wide painting by Jean-Michael Basquiat “Untitled (Boxer)” portrait. The painting, which the artist painted in 1982 belongs to the drummer for the heavy metal band Metallica, Lars Ulrich. Basquiat first came to the attention of art connoisseurs in the 1980’s after as successful showing at a local show in New York City.

Jean-Michael Basquiat, whose mother was Puerto Rican and father was Haitian, dropped out of high school in the mid-1970’s and later became renowned in Manhattan for his graffiti art, which he sprayed on buildings. In the mid-1980’s, after the triumphant show in Manhattan, an article in Artforum by Rene Picard brought international recognition and he was able to exhibit his art at many solo exhibitions both nationally and internationally. As a member of the Neo-Expressionist movement, Basquiat collaborated with many artist of that genre including the great Andy Warhol.

Basquiat reportedly died of a drug overdose in 1988 at the young age of 28, full of talent and promise. His paintings have been known to bring in millions at auction. At a Sotheby’s auction last year, a full length self portrait brought in more than $14.6 million. Experts estimate that this boxer painting will bring in $15 to $20 million.