Collector makes $200m find from a $45 garage sale purchase

Mozo

Thursday 29 July 2010

A collector in the US has confirmed that a set of glass negatives bought at a garage sale for US$45 ($49) back in 2000 are in fact rare prints worth at least US$200 million ($222 million).

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Rick Norsigian, a school district painter, said at a press conference in Los Angeles that experts have confirmed the negatives are actually the work of iconic photographer Ansel Adams, news.com.au reported.

It comes after a painstaking process involving experts in photography, handwriting (who examined notations on the envelopes in which the negatives were found) and meteorology.

The specialists in the latter field looked for evidence of weather at the time Adams took his famous landscape pictures.

According to the news website, art appraiser David Streets has estimated the negatives’ minimum value at US$200 million based on current sales of Adams’ prints and the potential for selling reproductions.

Should Mr Norsigian choose to sell up, he may wish to compare savings accounts in search of the best interest rates for his newly found wealth. Peter Crump of Portfolio Planning Solutions recently told the Sydney Morning Herlad that investors should "juggle" their savings plans in order to reap the best long-term returns.

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