Man Buys Bungalow for $300K, Finds Art Worth $30M

Thousands of pieces discovered in garage, attic

   

Man Buys Bungalow for $300K, Finds Art Worth $30M

arthur pinajian Man Buys Bungalow for $300K, Finds Art Worth $30MA man who bought a small home on Long Island is raking in the dough from the art world.

The man — who bought the home in Bellport, N.Y., for $300,000 in 2007 — found thousands of paintings, drawings and journals by Arthur Pinajian, the Associated Press reports.

Appraiser Peter Hastings Falk — who valued the pieces that were found in the home’s attic and garage — told the owner that the collection was worth up to $30 million. The works are said to be among the Armenian-American painter’s best.

Several of the pieces have already been auctioned off with some going for $500,000. It is unknown how many of the pieces the lucky owner will sell or keep.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/03/man-buys-bungalow-for-300k-finds-art-worth-30m/.

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