USA: Painting found in New York trash could fetch up to 1 million dollars

Record ID: 823846

  • Title: USA: Painting found in New York trash could fetch up to 1 million dollars
  • Date: 25th October 2007
  • Summary: NEW YORK CITY, NEW YORK, USA (OCTOBER 23, 2007) (REUTERS) SOTHEBY'S AUCTION HOUSE
  • Embargoed: 9th November 2007 12:00
  • Keywords:
  • Location: Usa
  • Country: USA
  • Topics: Entertainment,Light / Amusing / Unusual / Quirky
  • Reuters ID: LVA7JH9JGR3ZG34QLD1R5SK26UW
  • Story Text: The treasure that a New York City woman saved from the trash -- a stolen masterpiece called "Tres Personajes" ("Three People") by Mexican artist Rufino Tamayo -- is expected to go for as much as $1 million at auction next month.
    Nearly four years ago Elizabeth Gibson was on her way to coffee when she spotted a painting among garbage bags set out for morning collection in her Upper West Side neighbourhood.
    "I saw the painting, and it was in the trash, yes , but it was also very powerful. And I thought oh my god, what am I supposed to do!"
    Gibson said she went and had a cup of coffee nearby, but compelled to return to the painting.
    "I looked at it and 'Oh my god, what am I supposed to do?' You know. I don't understand it, I don't know modern art. I don't have the apartment for it, but I can't leave it in the trash, it's wrong. So I took it home.",'" Gibson told Reuters on Tuesday.
    If Gibson had not acted so quickly after spying the painting, it might have been lost forever. A doorman nearby later told her that garbage collectors had come along just 20 minutes after she had left with her new finding.
    Gibson, who had hung up the painting after her discovery, said she learned of its worth when research led her to the Web site of "Antiques Roadshow FYI," a companion program to the PBS show "Antiques Roadshow."
    Sotheby's expert August Uribe had featured the painting on "Antiques Roadshow FYI" after it was stolen more than 20 years ago.
    Eventually Gibson got in touch with Uribe and arranged a meeting. Upon seeing the work Uribe immediately identified it as the missing Tamayo by its rough painting surface.
    "When I saw the piece, physically for the first time, I was so happy - not just because this work had been recovered, but also because it hadn't suffered any damage. It was in excellent condition," said Uribe.
    "Tres Personajes" was returned to its owners, who wish to remain anonymous, and is expected to fetch between $750,000 and $1 million when Sotheby's auctions it on Nov. 20.
    "I know 15 thousand dollars is, you know, point one something percent of the million dollars that I hope it sells for but I feel totally happy I did the right thing," said Gibson.
    In addition to the $15,000 reward for returning "Tres Personajes" to its rightful owners, Gibson will also receive an undisclosed 'finders fee' from Sotheby's.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register