A German Renaissance painting that sold for a mere $30 in 2017 is now worth $10 million or even more. The Albrecht Durer painting was recently revealed to be the “Virgin and Child” painting with a value in excess of $10 million.
How the Valuation was Determined
Clifford Schorer from the Agnews Art Gallery based in London works as a consultant and also as an art collector in Boston. He was checking out the fiction collection at a local bookstore in 2019 when the store’s owner requested that he assess a drawing recently bought by an acquaintance.
The bookstore owner quickly indicated that the drawing might be worth a significant amount of money as it resembled an original drawing of Durer. What makes this story so interesting is the fact that the bookstore owner waited two years after his friend purchased the drawing at a garage sale to have it assessed.
Schorer was a bit hesitant to confirm the drawing’s legitimacy yet his due diligence ultimately verified the drawing’s uniqueness. The drawing turned out to be an original Durer piece. Durer passed away in 1528. Schorer subsequently visited the owner who refused to identify him or herself to discuss the drawing’s idiosyncrasies and value.
The Find of a Lifetime
Schorer recently conducted an interview with CNN to provide additional context for the story. He commented, “When you’re in my world you spend your life looking for unknown things that lead to fascinating research avenues … and I could see I was at the beginning of something extremely exciting.”
The art specialist invested three years of his life traveling the globe to verify the artwork’s authenticity. The collector indicated art history experts agree the drawing is a Durer as it has all the signature characteristics of the artist’s drawings. The art history buffs who analyzed the piece also indicate it stems from the 16th century.
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Schorer went on to delve into the financial details of the piece, indicating it is likely worth $10 million or even more. The piece will likely be sold in the years ahead at a value that is relative to that of other master drawings from the early 16th century.