Art Enthusiast Buys Painting For $5K, Sells For $5M Year Later

An art enthusiast paid five thousand dollars in 2013 at a London auction for a painting of an 19th-century English landscape and sold it for five million dollars a year later.

When the painting was bought it was thought to have been paid too much for, given that the auction house estimated its value between $760-1,200, but it proved to be a smart move.

This week the price of the painting jumped to 1,000 times its previous value, and despite its value being estimated between $2-3 million, it sold for $5.2 million this past Wednesday.

The discrepancy in the value of “Salisbury Cathedral from the Meadows” is due to various different art expert’s, as it is a work of a follower of John Constable.

For more on this story, visit Lorenzo Ferrigno, CNN.

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News Talk Florida Staff