ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© 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 “it 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 “Woman 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
Harvey had to tell the world that his lips were 'all naturale.'
43 minutes ago
While the investment in AI has surged, its contribution to the GDP isn't the biggest
19 hours ago
Harvey heard names that could never be in a Shakespearean play.
19 hours ago
The CFRB's projections estimate the debt to rise by $5.5 trillion in the worst case scenario.
19 hours ago
Harvey couldn't help but teach the contestant a lesson on show etiquette.
22 hours ago
Even the fans came out in support of the contestant Jess Graham, calling the puzzle unfair.
23 hours ago
Taking advice from his dad in the audience, Robert chose to play it safe.
3 days ago
The reduction in utility bills will be temporary and residents will end up paying some of that back
3 days ago
The player, Chad Hedrick got the fans to the edge of their seats before scoring the win.
4 days ago
The layoffs are expected to hit the People Experience and Technology units of the retailer.
4 days ago
In the retailer's latest earnings call, CEO Ron Vachris praised the app based checkout system.
4 days ago
The bill aims to overhaul the governance of community associations to increase transparency.
4 days ago
The silicone strings attached to a Yetonamr toy have caused over 30 instances of choking. attached to the toy violate the safety standards and pose as a choking hazard.
4 days ago
The young man earned Harvey's respect with his mature but creative answer.
4 days ago
After the market saw its worst day since October, Trump seemed to soften his threats to the E.U.
5 days ago
The guest had previously bet that her 'His Master's Voice' gramophone wasn't authentic.
5 days ago
At the World Economic Forum, Trump made claims about the economy that the numbers fail to support.
5 days ago
The court is hearing arguments in a case challenging the president's authority to fire Cook.
6 days ago