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WHEN AN AMERICAN art dealer dropped $15,000 (€12,830) on what he thought was “junk” in a New Jersey storage locker, he never imagined it could be the deal of a lifetime.
But he now believes stashed in the unit were six paintings by Dutch-American abstract master Willem de Kooning, which could be worth millions of dollars.
The auction record for a de Kooning is $66.3 million (€56.7 million), set for large canvas “Untitled XXV” at Christie’s in 2016, while another sold privately for a reported $300 million (€257 million) in 2015.
Another piece of luck, according to New York gallery owner David Killen, is a painting by Swiss modernist Paul Klee that he says was also found in the unit.
The works originally came from the studio of Orrin Riley, a superstar in the art restoration business who died in 1986, leaving everything to his partner, Susanne Schnitzer, who was killed in a traffic accident in 2009.
Her executors – friends in New Jersey – spent years trying to find rightful owners for the art, but no one came forward to claim the 200 pieces languishing in the storage unit, near the Ho-Ho-Kus township.
“Honestly all I knew was (an)other auction house passed on it, so my feeling was it was a bunch of junk,” Killen told AFP by telephone.
“All these things are boxed up. I said, ‘Look, I’ll give you $15,000 for it. I’ll take a chance,’” he said. If nothing else, he thought the items would pad out auctions he holds every two weeks.
It was only once the items were being unloaded that he spotted what he believes to be de Kooning paintings.
‘Blown away’
The work is not signed, but Killen said a restorer based on Long Island, who used to work for both Riley and de Kooning, also believes they are genuine.
“I can see in his eyes, he’s shaking,” Killen told AFP. “He said ‘this is exactly what de Kooning was doing in the ’70s, one after the other’.”
Art conservator Lawrence Castagna says he “absolutely” believes the six oil-on-paper works to be de Koonings, but stressed it was “just my opinion.”
“I’m just blown away by the whole discovery to tell you the truth,” he told AFP.
Castagna said he did “minor repair work” but otherwise the works would be sold as they were found, anticipating significant interest when they go on display for the first time publicly in nearly 35 years.
Killen is hosting a party tomorrow to unveil the paintings, which he believes could fetch anywhere from $10,000 to $10 million when he offers them for auction later this year and next January.
“I’m excited. Believe it or not – and people will laugh when they hear this – it’s not about the money. I want some publicity for my auction house,” he said.
But what would he do with a bonanza cheque? New doors for his gallery and a “really nice apartment”, he replies.
The New York Post first reported the story last weekend. Since then, the telephone has been ringing off the hook, says Killen.
The reaction’s been tremendous.
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Eileen I have to agree with Lauren for the simple reason…..that she’s smoking hot.
Naw, fake tan and stretched plastic looking.
Well done once again to the bomb squad , amazing work !
One wonders though how long the Ministers of Justice and Defense are going to allow this increasingly dangerous situation to continue?
What would you propose they do? Set up search check points at every cross roads in the country?
What do you suggest Lauren ?
The Gardai and Army HAVE access to more information than you or I . The thing is there is only so much that so few manpower can do. There should be more Gardai .The Gardai and Army bomb disposal teams do great work and I am not criticising them , but the politicians who have reduced their numbers should be held accountable . It is worth noting that any number of Gardai can be summoned to Mayo , yet there are viable exploding devices being found , but who is panting them ??? . The Banks have access to Gardai and Army to protect their money in transit …..
As it happens Eileen the banks have to pay for the gardai and army when they need cash escorts
What would you propose we pay all this extra man power with? gratitude?
So the banks pay for private security from State police . Says it all there. By the way I have the utmost of respect for te majority of Gardai. They like the prison service have a thankless job. Maybe it is about time for the banks to pay for their own private security and this in turn would free up gardai and army personnel to carry out duties for the state and the citizens. Shell should also employ more security if they feel so much at risk. You seem to be very defensive. I have good time for the work of the gardai .
Gratitutde does not put food on the table so are you telling us here that shell and the banks pay Garda salaries ? Are you seriously implying that only for Shell and the banks Gardai would not be paid ? Lauren , maybe you should retract your comments , because what you are saying is actually accusing the government of offering preferential treatment and service for money …… I do not think the Gardai will like that .
How are finding life on the outside Larry? I thought you were in hiding.
Free travel. I can pop up anywhere.
Lucky for Lauren she’s not your type so.
Let’s not trivialise the greatest risk to the Irish State since the so ceasefire in Northern Ireland. Increased terrorist activity across the Border including shots being fired at PSNI last month and this sad total of 123 call outs with more than fifty viable devices in the Republic this year alone. This is alarming
and even more so when the National Press is ignoring the matter. Perhaps we should read something into the obvious lack of coverage and also lack of comment from the Department of Justice or Defence.
Mick Collins,
There are more Garda Stations to be closed next year and there is a green paper on Defence due for budget time there is another 12.5 billion euro to be taken out of this economy by the end of 2015, our troika masters have spoken and so it shall be.
Jesus, they call out BDU so often they have to replace the tires on the robot every year.
I believe it is ex-IRA members who are selling there wares and expertise on to criminal gangs now that the WAR! Is over….a leopard never changes it’s spots!!
They (guards) know who planted it,they know who it was intended for (local traveller fued). There’s a (want to be) traveller crime family intimidating the local wealthier families for land and cash and the guards can’t do anything about it. This is the third device that they’ve been called out too in rathkeale. The first one exploded when it was thrown into a house and the second failed to detonate.
Makes me wonder what kind of person is doing this. Is there an agenda? Making bombs for the craic because they can? Like hackers and their bragging rights. Just looking for attention. Hard to know. All these bombs being found yet none have gone off. Very strange.
Yes they have gone off…with one removing the hand of a young boy in Wicklow! A Nation Once Again,,me arse!
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