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South Carolina Man Buys Painting For $3 And Sells It For $190,000
A man paid $3 for an oil painting and ended up making a tidy profit. Preferring to stay anonymous, but willing to share his good fortune, a South Carolina man, tells his story to local media.
According to WYFF Channel 4, the 81-year-old Anderson County man, who only identifies himself as "Leroy", bought a painting at Goodwill for $3, thinking he could sell it for "maybe $100 or couple of hundred on the Internet."
It turns out he netted a lot more than that.
He purchased the painting about 18 months ago reported MyFox Channel 8.
Upon getting an appraisal, Leroy learned the painting was crafted in 1650 and was told the piece originated from a Flemish school in Amsterdam. The centuries-old painting was sold this past weekend in a Massachusetts auction house. It sold for a whopping $190,000.
Leroy told WYFF, "It's the biggest find I've ever had. It's that one thing you're always looking for. I'd like to get the big one. Well, that was the big one. I can only thank Goodwill for that."
Leroy has some experience. He is a former antiques dealer, and now spends his time shopping in thrift stores. Those who routinely peruse what others have donated and/or discarded know that sometimes true treasure is found, like the man who bought glass slides at a garage sale for $45 and later learned their true worth was $200 million.
"I might not know exactly what it is worth, I just know whether it's a good piece or it is not a good piece. And that's what happened with the painting, I didn't realize 1650 was the age of it. For that age, great picture. Great picture," Leroy told the TV station.
Reportedly, Leroy's painting will be featured on Antiques Roadshow next month.
Not bad for a $3 investment.
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Mark Zuckerberg and Priscilla Chan to give away $45 billion
The Facebook chief executive said Tuesday that he will give away 99 percent of his family's stake in the social networking giant to celebrate the birth of daughter Max Zuckerberg, his first child with wife Priscilla Chan. Their Facebook shares are currently worth $45 billion.
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A recent study by Chinese real estate website Juwai concluded that Canada is the third-most attractive market for Chinese investors, after the U.S. and Australia.
“Canadian cities are like London or New York, a safe place to invest for the long term. Some people call Vancouver a 'hedge city,’” said Andrew Taylor, co-CEO of Juwai.com. He added that the level of investment from China could soon rise, as the country is set to loosen rules on the transfer of wealth outside its borders.
“As Chinese buyers spread across the country, you could call Canada as a whole a ‘hedge country."
Chinese investors spent $22 billion on American real estate in 2013, and $17.2 billion on Australian real estate. The U.S. National Association of Realtors recently released a report saying, like in Australia, China is the biggest source of foreign investment.
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