Feb 6, 2007 5:55 pm US/Eastern
Expensive Painting Found In North Attleboro School
by Peg Rusconi
NORTH ATTLEBORO (WBZ) ―
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The 7-by-10 foot masterpiece by Russian artist Alexandre Iacovleff is entitled "Afghans."
Courtesy: Mark Stockwell-The Sun Chronicle
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William Charles and Edith Whiting Thompson, donated the painting to the town around 1950.
Courtesy: Mark Stockwell-The Sun Chronicle
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The painting has been appraised at $600,000 to $800,000 by Sotheby's of New York.
Courtesy: Mark Stockwell-The Sun Chronicle
A painting that's hung on the wall of an elementary school in North Attleboro for decades, could be worth hundreds of thousands - possibly millions - of dollars. Now the town is trying to decide whether to sell it or keep it.
The 10-by-7 foot painting, entitled "Afghans" features robed men on horseback.
Over 55 years, who knows how many people noticed it on the left wall of the school auditorium or what they thought?
Now, it's unlikely anyone will forget it.
In December, a church member using the auditorium recognized the russian artist -- Alexandre Iacovleff -- and told school officials the painting might be valuable.
So Superintendent Rick Smith sent pictures to the Sotheby's auction house.
"On January 9th I received a letter from a representative of Sotheby's and she was astounded, and explained that this painting might sell for between 1 and 2 million dollars," said Smith.
The painting was a gift in 1951 from William Charles Thompson who worked at a Boston gallery and knew the artist.
But no one realized how its value had grown.
Smith says he and another official kept it quiet until the painting could be moved and stored.
"You can't leave it in a building like that because no one will insure it. Not just the fact someone might take it or damage it, but there's the fire alarm and sprinkler system," said Smith.
As officials readied a vote on auctioning the art -- the late donor's family came forward.
The donor's grandson declined an on camera interview but said his grandfather gave the painting to the town so people here could see and have access to a beautiful piece of fine art.
He thinks whatever happens to the painting now should reflect the intention of that gift.
(© MMVII, CBS Broadcasting Inc. All Rights Reserved.)
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