ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
Β© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Aunt on deathbed tells nephew to look 'under her sewing machine' to find a $25 million secret

His uncle had bought it for $10 in London while serving as a soldier in World War II.
UPDATED DEC 2, 2024
Senior woman using a sewing old machine at home (Cover image source: Getty Images | WestEnd61)
Senior woman using a sewing old machine at home (Cover image source: Getty Images | WestEnd61)

A dying aunt from New Jersey left her nephew a treasure. On her death-bed, Carl Sabatino's aunt told him to check under her sewing machine. When Sabatino looked, he found an old painting there. When he looked closely, he realized that it wasn't just a painting but a potential Pablo Picasso original, worth millions. 



 

Before Jenny Verastro of Staten Island, New York, died in 2004, she told her Sabatino to check under her sewing machine. He told NBC that β€œit just came flying out, literally in my lap. And I began to cry."



 

Screenshot from the YouTube video | YouTube | Inside Edition
Screenshot from the YouTube video showing the aunt's sewing machine | (Image source: YouTube | Inside Edition)

He recalled seeing the painting of the fuzzy lady in his childhood, hanging at his uncle's house. He shared that his uncle had bought the piece for $10 in London while serving as a soldier in World War II. Upon close examination, Sabatino found out that it was a recreation of Picasso’s β€œWoman with a Cape,” which had been on display at the Cleveland Museum since 1956.

Screenshot from the YouTube video | YouTube | Inside Edition
Screenshot from the YouTube video showing the painting (Image source: YouTube | Inside Edition)

When he took the copy to an executive of a New York auction house she dismissed it saying that it was nothing but a $10 poster. However, Sabatino wasn't convinced, so he dug deeper. 

Sabatino did extensive research and found out that during Picasso's time in Paris, in 1936, he experimented with a fine art photographic technique called 'gum bichromate'. As per NBC, gum bichromate combines photographic techniques and original coloring with pigments to create a new form of artwork. Sabatino believed that Picasso duplicated the "Woman with a Cape" to test the method, and the piece his uncle bought was that very copy.

He took to painting to Dr Kenneth Smith, president of the Center for Art Materials Analysis in Westmont, Illinois, for examination. His team extracted small amounts of pigment from the artwork and found that they were consistent with the place and time that Picasso would have produced the copy. 



 

Smith also found a partial right thumbprint on the side of the work that could be of Picasso himself. Sabatino then took the painting to Richard Beaulieu, an internationally known Picasso expert and art appraiser. After examining the painting and the scientific evidence, Beaulieu was convinced that it was original.  "It was the real deal," he told Inside Edition.



 

The expert estimated that considering the paperwork, forensics report, and the signature of the artist, the painting could be worth millions. However, what sets the piece apart is the thumbprint, and he speculated that if it is indeed of Picasso, the piece could sell for anything between $25 million to $30 million. This was back in 2015.

Pablo Picasso in his Paris studio | Getty Images | Photo by Bettman
Pablo Picasso photographed in his Paris studio | (Imag source: Getty Images | Bettman)

Realizing the true value of the piece, Sabatino safeguarded the artwork in a fireproof case and placed it in a safe location in the tri-state area. He called the artwork redemption for his working-class uncle and aunt who struggled to make ends meet but always loved the arts. Finally, in 2019, after 15 years of its discovery by Sabatino, the artwork was officially verified and appraised for a whopping $25 million by Sheldon Fine Art. It then went up for sale through the New Port Art Gallery, The Providence Journal reported.

This article originally appeared 2 months ago.

MORE ON MARKET REALIST
While all the Sharks were out, Mark Cuban saw the potential in "Garage Celebrations."
13 hours ago
The loss was ironic as the retired teacher coulnd't get a phrase commonly used in classrooms.
15 hours ago
The recalls were issued for a range of products including tires, air conditioners and power banks.
16 hours ago
The guest who got the item as a gift from a neighbor had little to no idea about its significance.
18 hours ago
Harrison got a good deal for the fossil although it wasn't what he had thought.
1 day ago
The player, Beth Barbee left everyone in the dust with her impressive puzzle solving skills.
1 day ago
Given her celebrity status, Harrison cut her some slack in the negotiations.
1 day ago
The deal ultimately fell apart as the seller, Scotty was looking to get $375,000.
2 days ago
The guest was blown away by the six-figure appraisal for his father's John Falter illustration.
2 days ago
Harvey just couldn't believe that the contestant could come up with an answer like that.
3 days ago
Antoinette's win was even more special because she needed a car more than anything at that point.
3 days ago
The player, Catrice Sandt, nearly blew the Bonus Round puzzle by saying too many words in the end.
4 days ago
The co-founders of Nature's Wild Berry left the Sharks in shock with their miraculous product.
4 days ago
The contestant named Whitney could barely control her emotions as she celebrated with Ryan Seacrest.
4 days ago
The player named Kathy Young missed out on the Showcase Showdown as she had to leave.
5 days ago
Harrison closed a mega deal by scooping up three post cards for the price of one.
5 days ago
The guest who brought his father's prized possesion, had already made up his mind.
5 days ago
Harvey got a genius solution to avoid asking an awkward question to Carson Kressley's family member.
6 days ago
The player could barely control her excitement as she had a near-perfect game on the show.
6 days ago
Harrison knew it was too good of a collection to let go, and he decided to raise the stakes.
7 days ago