A Jackson Pollock painting possibly worth over $15 Million was found in a garage in Arizona among other knick-knacks and memorabilia. The painting was located because the homeowner was downsizing and moving to a retirement facility. During the move, a friend spotted a signed L.A. Lakers poster believed to be of value, which prompted review of other items in the garage. The sports poster was determined to be only worth $300 (actually not a bad value for a modern-day poster, which generally does not retain value). In contrast to the poster, the Pollack was taken back to the auction gallery for further examination. After feverishly researching the provenance in an effort to determine how the Pollack could end up in Arizona (where regional southwestern art is king), the appraiser/auctioneer involved, Josh Levin of J. Levine Auction & Appraisal, found a link from the Arizona owner to his half-sister, Jenifer Gordon Cosgriff, who was a New York Socialite. After tireless research, it has been determined that the painting is a missing Pollack gouache. In regard to authentication, the auction gallery indicates that the forensic report states that “no pigments or binding media introduced in the late 1950s and 1960s have been detected.” Reports indicate that since the painting was removed from storage it has been restored. The painting will go to the auction block next week in Scottsdale, AZ with a reported starting bid of $5 Million.
