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The price is right

October 7, 2018

In 1958, a couple of art-loving Americans from Louisiana bought a painting at auction at Sotheby’s for the princely sum of $120.  They took it home and hung it on their stairway in their home in Baton Rouge.

It was passed down, generation to generation, until it landed in the hands of Basil Clovis Hendry, Sr.  He died in 2005, and the painting sold at an estate auction for $10,000.

A pretty good return on the investment.

As it turns out, the painting was actually a masterpiece by Leonardo da Vinci entitled “Salvator Mundi” which was apparently painted for English King Charles I shortly before he was executed.

Christie’s auctioned off the painting last November for $450 million. It is the single most expensive work of art in the world.

A pretty good return on the investment.

 

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