USALife.info / NEWS / 2023 / 11 / 19 / HE THOUGHT HIS CHUCK CLOSE PAINTING WAS WORTH $10 MILLION. NOT QUITE.
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He Thought His Chuck Close Painting Was Worth $10 Million. Not Quite.

04:46 19.11.2023

In a news item that can only be described as a rollercoaster of emotions, former New York City dog walker Mark Herman experienced the ultimate disappointment when a painting he believed would fetch $10 million at auction sold for a mere $40,000. Living off Social Security, the retiree had acquired the untitled 6-foot abstract nude by renowned artist Chuck Close from his late friend and former lawyer, Isidore Silver. Herman had a vision while under the influence of psychedelic mushrooms that the painting would be worth a fortune, but his dreams were shattered when the artwork failed to meet his expectations.

The story began six years ago when Herman started walking Silver's toy poodle. The two formed an unlikely friendship, despite their contrasting personalities, and it was during this time that Silver casually mentioned a painting by Chuck Close that he kept hidden away in a closet. In March, shortly before Silver's passing, he offered the painting to Herman as a gift. Overwhelmed, Herman researched Close and discovered that one of the artist's works had sold for an astonishing $4.8 million. Excited by the prospect of a life-changing sum of money, he contacted Sotheby's auction house to sell the painting.

However, complications arose when it was discovered that Close had passed away in 2021, and the artist's estate had no record of the specific painting Herman wished to sell. Sotheby's withdrew the painting from auction, leaving Herman frustrated and disheartened. He attempted to seek other avenues to sell the artwork but was met with rejections from various auction houses, museums, and galleries. It seemed that Herman was left with a valuable painting that no one was willing to authenticate or sell.

Hope was reignited when archivist Caroline White from the University of Massachusetts unearthed a 1967 issue of the student newspaper containing a photograph of a painting very similar to the one in Herman's possession. This discovery provided the much-needed authentication, and Herman's enthusiasm was restored. With dreams of a new home for himself and his girlfriend, he eagerly awaited the auction at Heritage Auctions in Dallas.

Anticipation grew when an early bid of $40,000 was placed before the auction even began, surpassing the auction house's estimate of $20,000 to $30,000. Herman, who had never witnessed an auction before, nervously watched as his painting came up for bidding. With a sense of optimism, he hoped that the final bid would reach the high six figures. However, disappointment struck once again as no further bids were placed, and the painting was ultimately sold to Long Island lawyer James Pincow and his father for $40,000.

Pincow, who admitted to not being a big art collector, was drawn to the painting due to the articles he had read in The New York Times. The elder Mr. Pincow believed the artwork was undervalued, while the younger Pincow was captivated by the story behind it. The father-son duo had not yet decided where the painting would hang in their Long Island home.

As the reality of the low sale price sunk in, Herman went through various stages of grief. However, despite the disappointment, he maintained a positive outlook, acknowledging that having a significant amount of money would only bring added pressure. Herman's journey from a dog walker to a participant in the world of priceless art and auctions was captured by filmmaker Amy Sargeant, who had reached out to him following the publication of his story in The New York Times.

Although the outcome may not have been what Herman had envisioned, his story serves as a reminder of the unpredictable nature of the art market and the emotional rollercoaster that comes with it. The dog walker's dreams of a multi-million dollar payday may have been shattered, but his resilience and ability to find silver linings demonstrate his enduring spirit. As he continues to walk dogs, Herman remains a testament to the power of unexpected connections and the unyielding pursuit of dreams.

/ Sunday, November 19, 2023, 4:46 AM /

themes:  New York City  New York (state)  Massachusetts



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