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

by Nate Wooley | March 7, 2013 11:32 am

arthur pinajian Man Buys Bungalow for $300K, Finds Art Worth $30M[1]A 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[2].

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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Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/03/arthur-pinajian.jpg
  2. the Associated Press reports: http://hosted.ap.org/dynamic/stories/U/US_DISCOVERED_ART_TROVE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-03-07-09-33-04
  3. Man Finds $160K Chunk of Whale Vomit: http://investorplace.com/2013/02/man-finds-160k-chunk-of-whale-vomit/
  4. Two Costco Workers Win $50M Jackpot: http://investorplace.com/2012/12/two-costco-workers-win-50m-jackpot/
  5. Brothers Win Lottery, Blow Up House: http://investorplace.com/2013/02/brothers-win-lottery-blow-up-house/

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