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Rare Georgia O'Keeffe Painting Found in Closet of NYC Apartment, to Be Auctioned for at Least $3 Million
The rediscovered landscape, found in a New York apartment closet, is one of three known versions and could draw $3 million at auction.
On November 17, Christie's 20th Century Evening sale will feature the long-lost Georgia O'Keeffe painting, "Near Abiquiu, New Mexico I" , carrying an estimated value of $3 million.
A Rhode Island woman named Betsy discovered the artwork hidden in her late aunt's East Village closet beneath fur coats; her aunt, a former Foreign Services worker, had purchased it for $3,800 in 1963.
Depicting Lobo Peak, the painting is likely the first of three iterations, with the second held by the Metropolitan Museum of Art, and was hidden in the 1980s after a visitor eyed it too closely.
Proceeds from the sale will benefit an unnamed education institution, while Betsy plans to use her portion for personal expenses like her mortgage, having briefly hung the painting for "chuckles."
Christie's international director Tylee Abbott emphasized the rarity of such discoveries, stating, "Rediscoveries are rare in the well-established market for academically researched and highly revered historic American artists.