From a $5 painting with a $50 million asking price to a trove valued at $1.35 billion: Five lucky people who discovered forgotten artworks worth a fortune

A sealed attic, a garage sale or a thrift store might seem like an unexpected place to discover a fortune. But some of the world's most valuable art discoveries were spotted in these ordinary surroundings.

Imagine purchasing an old canvas for just $5, only to discover that it might be worth $50 million. Or finding boxes of photographic negatives at a garage sale that could be connected to one of America's most celebrated landscape photographers. From a collection of artworks worth $1.35 billion to an imperial Chinese vase that was auctioned at $85 million - here are the five discoveries that reveal how valuable objects can remain hidden in plain sight for years, sometimes even decades.

Here is how they were discovered, what made them valuable, and why some of their reported valuations remain contested.

1. The Gurlitt Collection - $1.35 billion

This probably is the most astonishing art discovery of the century.

1379 paintings were recovered from art collector Cornelius Gurlitt’s apartment in Munich in 2012. The entire collection was estimated to be worth $1.35 billion. He also retained numerous works for himself that included artworks by 20th-century masters Pablo Picasso, and Henri Matisse, who the Nazis considered to be ‘degenerate artists’. His collection also has a 16th-century Albrecht Dürer engraving. Gurlitt died in 2014 and gave away his entire collection to the Museum of Fine Arts in Bern, Switzerland.

2. Ansel Adams photographic negatives - $200 million

A garage sale purchase worth just $45 became the centre of a multimillion-dollar art controversy.

Around 2000, commercial artist Rick Norsigian came across two boxes of glass-plate photographic negatives at a garage sale in California. The images of Yosemite caught his attention because Norsigian had worked in the area previously. He was drawn to the familiar landscape and bought the negatives for $45.

It was only later that he began to suspect the photographs might be the work of Ansel Adams, the renowned American landscape photographer and environmentalist who lived from 1902 to 1984. Norsigian pursued authentication through several specialists, including a former FBI agent, handwriting experts and a meteorologist who compared cloud formations in the negatives with known Adams photographs. He also hired evidence specialist Manny Medrano, who publicly supported the attribution.

The negatives were associated with a reported $200 million valuation. However, the members of Adams' family and other photography specialists questioned whether the negatives were his work. What began as a priceless garage sale purchase gradually became a high-profile contest over authorship and authentication.

Who was Ansel Adams?

Ansel Easton Adams was an American landscape photographer and environmentalist known for his black-and-white images of the American West. He was born in 1902 and died at the age of 82 in 1984. He was a founding member of Group f/64, a group of photographers who believed that a subject should be photographed with extreme clarity, sharp detail, and full tonal range from the deepest shadows to the brightest highlights.

Alongside fellow photographer Fred Archer, he also developed the Zone System, a technique that gave photographers greater control over how their final images would appear. By carefully adjusting exposure, film development, and printing, they could bring out the precise balance of light, shadow, and detail they envisioned in a photograph.

3. The Toulouse painting attributed to Caravaggio - $136 million

A leaking roof led to the discovery of a painting estimated to be worth $136 million.

In 2014, a homeowner in Toulouse, France, opened a sealed attic space while investigating a roof leak. He found a dramatic biblical painting depicting Judith beheading Holofernes, reportedly a painting by Italian Baroque master Caravaggio. The painting attracted significant attention and was valued at $136 million.

Who was Caravaggio?

Italian Baroque master Caravaggio was a revolutionary Italian painter belonging to 16th century. He lived from 1571 to 1610. His introduced Broque art style, Chiaroscuro and Tenebrism, and Raw realism

4. Chinese imperial porcelain vase - $85 million

A 16-inch-tall Chinese porcelain vase was discovered while clearing out a family home by British siblings. It gradually became the centre of an extraordinary auction.

The vase, along with other Chinese ceramics were brought to Bainbridges Auctions, near London. A consultant spotted the piece and identified the artefact as belonging to 18th century emperor Chinese emperor Qianlong, also noted a seal that directed that vase was associated with the imperial family. The estimated worth of the vase stood between $1.3 million and $1.9 million. After a bidding war in 2010 over the vase, the cost hiked to $85 million - a figure that set a new world record price for a Chinese artwork.

5. Teri Horton's thrift-store painting - $50 million

While browsing San Bernardino thrift store for a gift for a friend, Teri Horton bought a large colourful canvas with paint drips and splatters for $5. Horton and her friend both thought that the painting was ‘ugly’ until she tried to sell it at a garage sale. The painting was identified as 20th-century Abstract Expressionist master Jackson Pollock’s artwork by an art teacher.

Who was Jackson Pollock?

Jackson Pollock was an American painter and a leading figure in the Abstract Expressionism movement. He was born in 1912, died at the age of 44 in 1956 in a car accident. He suffered from severe alcoholism for most of his life. He introduced methods like Drip technique, action painting, and all-over style.

FAQs

1. What is the Gurlitt Collection and why is it significant?
   The Gurlitt Collection consists of 1379 paintings recovered from art collector Cornelius Gurlitt’s apartment in Munich in 2012, estimated to be worth $1.35 billion. It is significant because it includes works by renowned artists like Pablo Picasso and Henri Matisse, as well as a 16th-century Albrecht Dürer engraving.
2. How was the Ansel Adams photographic negatives discovery made?
   The Ansel Adams photographic negatives were discovered by commercial artist Rick Norsigian at a garage sale in California around 2000. He purchased two boxes of glass-plate negatives for $45, later suspecting they might belong to Adams, which led to authentication efforts revealing a potential value of $200 million.
3. What was the outcome of the discovery of the Chinese imperial porcelain vase?
   The discovery of a Chinese imperial porcelain vase by British siblings during a family home clearance led to it being auctioned for $85 million in 2010, setting a world record price for a Chinese artwork. Initially estimated between $1.3 million and $1.9 million, the vase was identified as belonging to the 18th-century Chinese emperor Qianlong.