Is there Value in the Paintings Hanging Right on your own Wall?

I’m sure I have an Old Master hanging on my wall

I may have to call in an art expert to examine that dusty old painting that grandpa left me. I was looking at it the other evening, waiting for my creaky old computer to come online, and I thought that the signature read ‘van Dingelen’. If it is by the Dutch Master, I may have a fortune hanging on my wall. I read an article in the NYT recently that said that a van Dingelen had come up on an auction at Sotheby’s and how there had been enthusiastic bidding. The painting had eventually sold for about 300,000 dollars. Oh man, could I use money like that!

How do I get hold of Sotheby’s and Christies?

Will they come out and inspect the painting or do I have to take it to them, meaning  expenses that I don’t have?

It would be a dream

This could be as good as a Lotto win. Can you imagine living with a piece of art that you never even glance at as you pass it a thousand times a day and it suddenly turns out to something of great value? Is it possible that the old painting that’s been hanging on my study wall since grandpa died in 1957 could really be worth great globs of money? The lovable old guy knew exactly what he was doing. He probably bought it from the artist himself back in the early 1900’s when grandpa started making his first money and wanted to help the starving artist.

I’m not the only one taking a new look at the things I live with. We all go through life picking up pieces we fancy, or that we think will go well with the curtains, or some of us with an eye to the future. We live with them and most of us probably leave without doing anything about them.

It could be money

The more I look at the picture the more I am convinced I should call in that art expert. Of course, the painting may turn out to be someone’s third lesson at art school, but who knows?

There was story in the papers last week about a photographer who borrowed large amounts of money from a lender and left her photographs as security against the loan. It seems that she is not alone in doing this kind of business with lenders. At a time when stock portfolios are plunging and many homes, even grand ones, have no equity left to borrow against, an increasing number of art owners are realizing that an Old Master or a prime photograph, when used as collateral, can bring in much-needed cash.

So why not me?

My financial situation deteriorates daily. I wouldn’t have the nerve to try and put up some of my own paintings, I means the ones I painted, as collateral against the loan. But I am not hesitating about walking from room to room peering at everything that’s hanging on the walls and the pieces on the coffee tables. I am in the market for a pleasant money surprise.