South Carolina Man Buys Painting For $3 And Sells It For $190,000

A year and a half ago, an 81-year-old man stopped by a Goodwill store in Anderson County, SC., and bought a painting for $3.

Last week, he sold it for $190,000.

The man, who only wants to be known by his middle name 'Leroy', told WISTV.com that he only bought the painting because he thought it might be worth "$100 or a couple hundred on the Internet".

His daughter-in-law, however, thought the painting might be worth a little more. She visited the Antiques Roadshow and got an initial appraisal of $20,000 to $30,000.

Over the weekend, at an auction house in Massachusetts, the painting -- which turned out to be a Flemish work of art from 1650 -- sold for over six times that.

"It's the biggest find I've ever had," said Leroy, a former antiques dealer and avid thrift store shopper. "I can only thank Goodwill for that."

Leroy will split the money with his son and daughter-in-law, and use his portion of the profits for some home improvement.

WATCH:

Comments

[carburetor]

04:00 AM on 03/12/2012

It appears that Goodwill needs an art appraiser! They are very careful with jewelry and video games. I guess this one didn't catch anyone's eye. I am surprised by the $3 price, since most oil paintings and original works are usually about $15. What a sweet deal for the finder! We should all be so lucky!

[lah1016]

12:39 AM on 03/12/2012

Hmm..lol..if I saw that painting I probably wouldn't have bought it...good for him!!

[Barbara Craker]

12:23 AM on 03/12/2012

OUr Goodwill is way overpriced. The only thing you can buy for $3.00 is a broken string of plastic beads from Mardi Gras. Seriously.

[snoogans460]

12:22 AM on 03/12/2012

If only I had such luck. Oh well, good for the old man.

[kernall]

11:43 PM on 03/11/2012

You would be amazed how much money you can make buying stuff at yard sales, estate sales, goodwill ect if you are willing to do a little work. You won't make finds like that every day but you can make a decent part time income if you. Need money, just go out and look for it.

[susanherna121377]

11:24 PM on 03/11/2012

Old news! This was on a few days ago!

[Boatnmaniac]

09:55 PM on 03/11/2012

Hmmm...I think it's time for me to make a visit to the local Goodwill store. I could use a good painting.

[Boatnmaniac]

09:54 PM on 03/11/2012

Antiques Roadshow actually underestimated the value of something for once? That must be a 1st...it's usually the opposite.

[JC2009USA]

08:31 PM on 03/11/2012

You can't help but be happy for someone when an unexpected windfall happens.

[udman]

08:22 PM on 03/11/2012

His tithe of $19k should go a long way for his local church.

[BUDDDCUP]

10:19 PM on 03/11/2012

AFTER GOVT TOOK THEIR FAIR SHARE

[SuperDaveOsborn]

07:44 PM on 03/11/2012

EVERYONE knows that The Antiques Roadshow appraiser low-balls people and screws them later when they choose to sell to them !

This also shows that ART is nothing to sneeze at, but the best part is that it fares better than any other investment in recent time; not to mention the POWER of IRS Rule 96-15 - allowing people to donate art and DEDUCT the full appraisal value off of their Schedule A Taxable Income or Capital Gains, but SADLY - even the best accountants and CPA's are generally not familiar with this !

[lazebill]

10:35 PM on 03/11/2012

who is everyone?

[SuperDaveOsborn]

01:01 AM on 03/13/2012

Evidently, everyone but you Iazebill - for you seem to be the only one that didn't hear about this in the NEWS !

[wwhatever747]

07:07 PM on 03/11/2012

It was off GoodWill CEO's wall...Tax write off.

[wwhatever747]

07:06 PM on 03/11/2012

Maybe GoodWill planted it there and hired a "Leroy" to "find" it to make a big news hit and it's for GoodWill's publicity of free advertising to get more customers into their stores?????

[emily3242011]

10:07 PM on 03/11/2012

your probably right...i dont know how it is where you live but where im at u can buy something used at goodwill and get the same exact thing brand new at a regular store for less money!!! some of their stuff at goodwill is way overpriced!!!

[humbledebbie]

10:37 PM on 03/11/2012

That's a very interesting thought!

[michaelcarson352]

04:59 PM on 03/11/2012

That's a nice return on his original investment. But where do you find these paintings? I mean I'd go as high as $25 for the same deal.

[gradyguy]

04:35 PM on 03/11/2012

This is still kicking around and HP still hasn't told us who the painting is by. Does anyone know why its worth $190K??

[thespianl16]

06:13 PM on 03/11/2012

"Over the weekend, at an auction house in Massachusetts, the painting -- which turned out to be a Flemish work of art from 1650 --"
Here's a link to the definition of a Flemish painting, HuffPo probably should have provided a bit more background but here you go. http://en.wikipedia.org/wiki/Flemish_painting

[BUDDDCUP]

10:22 PM on 03/11/2012

IT WAS ONLY WORTH $190,000 BECAUSE THAT IS WHAT SOME FOOL PAID FOR IT. HAVEN'T YOU EVER WATCHED THE BARRETT/JACKSON AUTO AUCTIONS. SAME WACKY PRICES GO ON AND ON.

[drgcanhrs]

03:40 AM on 03/12/2012

This has nothing to do with car auctions. Barrett Jackson is mainly cars from the early 19500's to 1980's with a few older/newer/showroom floor tossed in. They are bidding on a car and the highest price gets it. that's how auctions work. This is not an auction that this guy got the money from...