What's A Few Million Amongst Friends?

Good things come in threes with this amazing Pantages Portfolio painting discovered  in the depths of the consignor's basement. It was tucked up against an appliance with laundry soap, and covered in spiders and basement debris. No wonder the clown in the pink hat looks so sad!

This work caught Peter's eye and Judy started to investigate it immediately. The painting is by the German artist Karl Hofer (1878 - 1955) and is marked with this paper label on the back. The piece appears to be named "Masquerade."

The highest price ever paid for one Hofer's works is EIGHTEEN MILLION US DOLLARS. The value of this picture is TBD (but hopefully close to that!) On May 16, 2017, Christies sold a Hofer painting of a bathing Hindi girl; it was estimated at $150,000-200,000 and realized $391,500.