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Thrift Store Find: North Carolina Woman Discovers Valuable Abstract Painting

A North Carolina artist who purchased a $9.99 painting at a thrift store to reuse the canvas discovered it was a valuable work by Ilya Bolotowsky, eventually selling at auction for over $34,000.

Thrift Store Find: North Carolina Woman Discovers Valuable Abstract Painting

An ordinary trip to a North Carolina thrift store in 2012 resulted in an unexpected financial windfall for local artist Beth Feeback. Seeking inexpensive materials for her own creative projects, Feeback purchased a large painting at a Goodwill store for $9.99. Her original intention was not to display the piece, but to paint over the existing image to create a series of cat portraits.

The canvas sat in her studio for several months until a friend suggested she examine the back of the frame for any identifying marks. This casual advice led to the discovery of the artist's name, Ilya Bolotowsky, and the title of the work, "Vertical Diamond." The painting, a geometric abstract piece created in 1966, was subsequently authenticated and prepared for auction at Sotheby's in New York.

From Goodwill to the Auction Block

The discovery shifted the trajectory of the painting from a discarded item to a significant art-market asset. While Sotheby's initially estimated the value of the work to be between $15,000 and $20,000, the final result exceeded those expectations. During the September 2012 auction, the piece attracted a successful bid of approximately $27,000. With the addition of the buyer's premium, the final sale price reached $34,375.