Painting with a Hidden Value

One of the first trials I had to overcome after opening the shop, was to ascertain the true and correct current price of antiques. The value of antiques had risen enormously during the war.

As my finances were limited, I had to be sure that I would be able to compete with all the local dealers, both in the price I paid and the amount I could expect for the goods. As I had a history in the town from when I was working in my Father’s Paignton antique shop in the 1940’s, I had built up a lot of good will from the local antique dealers. Especially as I had returned from action overseas as a disabled war veteran.

On the whole, I was welcomed by many of 'the trade' and was given quite a lot of useful advice, but in business you have to live by your own decisions.

I attended a local auction sale to dispose of an estate in a small private house in Torquay (I think it was about 1947). I was particularly interested in several small porcelain items. Whilst waiting for their number to come up, the auctioneer apologetically held up a most appalling painting of a cat and small girl.

It was too bad to be called amateurish and the auctioneer even made an apologetic remark about it. To drum up interest, he informed the bored clients that never mind the picture, the frame alone was worth at least one pound and started the bidding at five shillings

To my surprise, a friend of mine who was quite an expert art dealer put up his hand and bid, whereupon another dealer doubled the price. A battle developed to my complete amazement and eventually the picture was sold for £1,500 to my dealer friend.

When the sale was over, I went over to my friend, and told him I was baffled at the price he had paid. I told him that being a comparatively new antique dealer, I was at a total loss to understand how, what I had judged as a dreadful painting could reach such an astronomical figure. I also added that I had now become so confused about paintings that I felt that I would never be able to value them from the knowledge of painting that I possessed.

I begged him, "Please tell me why you paid so much for what I assessed as a totally trashy picture"?

My learned friend was very understanding, and he told me that that picture had been painted by the owner of the property who had died and he had received a commission from the daughter of that lady to purchase the picture. He was authorised to go up to £5,000 for it as she knew that her sister who was also very wealthy, wanted it as well. The two sisters had fallen out with each other and were completely estranged. In fact they loathed each other.

I found out later that the daughter who did not get the painting, was furious to have lost. She had also commissioned a rival dealer to bid for the picture and was angry with him as she had told him to bid without limit!

Needless to say I was very relieved to learn that my judgement on paintings was still fundamentally sound and thirty years later I ran an exhibition of paintings in Miami Florida U.S.A. which was a very successful operation, both to me and the fortunate clients, that however is another story.