Wisconsin shopper paid $29 for painting; it later sold for $882,500
A painting purchased for $29 at a Wisconsin rummage sale was later identified as a work by 19th-century American artist Martin Johnson Heade. The piece, titled 'Two Magnolias on Blue Plush,' eventually sold at Christie's for $882,500.
Why it matters
The story highlights the potential for significant value discovery in the art market and the importance of expert authentication.
A Wisconsin bargain hunter paid just $29 for a flower painting at a rummage sale, with no idea that the artwork would eventually be worth a fortune. About a decade later, the painting was identified as a work by American artist Martin Johnson Heade and went on to Christie’s in New York. According to Christie’s auction record, Two Magnolias on Blue Plush sold for $882,500 on May 26, 1999, after carrying an estimate of $300,000 to $500,000. The sale turned an inexpensive rummage-sale purchase into one of the more remarkable art discoveries of its time.A $29 painting with a surprising historyThe painting began its journey to the auction block in an unlikely place: a Wisconsin rummage sale. A man from Wausau bought the artwork for just $29 because he liked the way the magnolia flowers were depicted.
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