Artist Buys $10 Ilya Bolotowsky Painting At Goodwill, Could Be Worth More Than $15,000

Beth Feeback was recently visiting a local Goodwill store when she spotted a piece of art for $10. While she didn’t care for the painting she bought it anyway because $10 for a new canvas she could paint over with a nice frame was a steal. Little did Feeback know the painting is estimated to be worth $15,000 to $20,000.

After purchasing the painting and taking it home Beth was preparing to paint over it when her friend suggested quickly searching online for the artist by name. Using labels affixed to the back of both frames the women discovered that the paintings were once part of the Weatherspoon Gallery at UNC-Greensboro. Next they discovered that the artist “Ilya Bolotowsky” was actually a well-known abstract painter in the 20th-century. The $15,000 piece the women discovered is called “Vertical Diamond.”

According to the Charlotte Observer:

Bolotowsky was a Russian-born Jewish immigrant who came to New York City in 1923.

Realizing what could end up being her good fortune Beth contacted a representative at Sotheby’s auction house in New York City. The specialist quickly dug up documents for the artwork from a 1979 Collectors show. The documents showed that a bankrupt textile company at one point owned both paintings.

Sotheby’s soon accepted the painting for auction and Beth mailed the painting to make it in time for the July 15 deadline. Sotheby’s expects the struggling painter to receive $15,000 to $20,000 for the artwork.

Beth tells the CO she’ll use the money to make back some credit card bills and start a tricycle gang for adults.

The Sotheby auction will take place on Sept. 21 but could be delayed until March 2013.

You can check out Beth’s own eclectic artwork here: www.bethfeeback.com.