I paid £4 for two paintings from the tip – then took them to an auction house & REALLY cashed in
A WOMAN shared the impressive profit she made on two items she picked up at the tip.
After purchasing the secondhand paintings, she decided to have them evaluated to determine their worth.
In a post on the Facebook group Car boot treasures, finds & best buys, she explained how she turned her made 225 times her original investment.
She explained that she has a lifelong history with car boot sales and described the paintings as her “best find yet.”
“My family started Cheddar Car Boot Sale & Market 28 years ago, which means I’ve been bargain hunting since I was nine years old,” the poster said.
According to the woman, she purchased two paintings for £2 each from a “regular stall holder.”
She explained that the artwork were originals from the British painter Anne Cotterill.
The man who sold her the artwork sourced his wares from the Taunton tip.
This meant that both paintings had been thrown out by their previous owner.
Despite their worth, the Facebook user revealed that she originally just liked the look of the artwork.
“I bought them because I loved them but after looking closely I realised they were originals and Anne was a well known artist focusing on flowers,” she said.
She decided to take the paintings to her local auction house to sell them on.
The auctioneers agreed to include the pieces in their next sale and they earned an impressive amount.
She revealed that both paintings were purchased for a total of £900.
The Facebook user then wondered if she should’ve held on to the original artwork.
She included photos of both the framed paintings, one of which featured a vase of daffodils.
The second piece of artwork showed a bouquet of wildflowers with some fruit next to it.
Tips for making profit on artwork
The experts at Artsper shared the steps to consider when re-selling artwork.
Valuing an artwork
Seek advice from an expert on the exact value and possibilities.
Reselling at auction
Make arrangements two to three months in advance to have your artwork appraised.
Galleries or dealers
They often buy the work from you to resell it themselves, offering you a better guarantee.
Taxation
This depends on how long you’ve owned the artwork.
If you have the date, description, and original purchase price, and you have owned the item for 12 years or more, you will be taxed according to the common law system.
If you owned the item for less than 12 years, you will be charged a flat tax rate.
Artist’s resale rights
During the 70 years following the artist’s death, a share of the resale price of the artwork is paid to the artist’s successors or beneficiaries.
Facebook users shared their thoughts on the impressive finds in the comments section.
“They are both wonderful paintings, although the daffodil one is my favourite. What a great find and profit,” wrote one reader.
“You obviously have a good eye!” said another impressed Facebook user.
“Wonderful find! We were only talking about Cheddar car boot this week!” commented a third person.
“Still have some items bought there and an Anne Cotterill but only a print!”