Posted by: junkwarriors | March 16, 2013

The 30 Million Payoff for Appreciating Beauty (with a little luck added in)

The 30 Million Payoff for Appreciating Beauty (with a little luck added in)

For people buying a new house, junk is usually a problem that they would negotiate to bring down the cost.  It is junk, and it would really cost to have it picked up and dumped in some junkyard.  This was not the case for Larry Joseph and Thomas Schults though who, after surveying the property they wanted to buy, decided to add on a few grand to the buying price just so that they can keep the paintings that were in the New York cottage that they planned to renovate.  The family quickly agreed, since they were supposed to dump the artwork at the wishes of the artist, who had died in 1999.

30 million art

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Before moving forward, it would be good to review a bit.  The house that was being bought at the time belonged to the sister of Arthur Pinajian, the painter who is now known to have incredible determination.  Like most artists, he lived an extremely secluded life, especially towards the latter part of his stay on this earth.  He would paint daily, but none of his works were ever known to be sold, and he lived with his passion through the support that came only from his sister.

Arthur was not always dedicated to painting, but his inclination towards the arts were definitely noted even during his early years.  He was born during a time when comic strips were developing, and he made some money off of that pursuit.  The second world war, however, put a hurdle along this path.  After coming back from the war where he had earned a bronze star, Arthur decided that he needed to put away the kid gloves and focus on his real desire… serious art, where he can communicate his ideas through color.

Life of a modern artist is difficult, because it requires you to know the different styles out there that have already been developed, but society also demands that you create a unique style that can be considered your own.  This he threw himself at with gusto, and started mimicking the styles of the well known artists in order to learn how they came up with their own method of painting.  Experts do note though that although this man mimicked a lot during his early practice sessions, he was able to come up with a truly unique style of his own.  This came through his years of study as he thought of the different issues that he noticed while painting.  Musings regarding the issues of color composition and pattern were found along with the paintings in the New York bungalow that was to be made over.

It is mind boggling how Arthur Pinajian lived his life without much luxury.  In an era where most people ran after things that would eventually rake in money, Arthur studied without the thought of being paid, and he did it with such a passion that one could say that he was simply doing art for art’s sake: a man truly dedicated to the advancement of art.  It is terrifying to think of the fact that almost all this knowledge and beauty could have been thrown out and lost just because some men wanted a clean house.

All this has not been lost though, and we have Larry and Thomas to thank for that.  Had they not gone to the area, had they not decided to purchase the paintings, then the world would have lost a treasure trove of knowledge and art coming from one particular man.  Thanks to them, the treasure is safe, shared and even sold.  Good for them though, they did get a good deal out of it too. The paintings were appraised at 30 million total. Some paintings on display in New York at selling for $87,000 each.

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