Focus on this artwork and discuss the Valuation.
Long thought lost or missing, the painting emerged in an estate sale outside Paris, France, before 2008.  During this art auction, the painting was originally priced between 10,000 and 20,000 euros (₱623,000 and ₱1.3 million), a range that rose to greater than 200,000 euros (₱12.4 million) when the painting was bought by a French art dealer.  The painting was auctioned once again on November 30, 2008, at Christie's in Hong Kong with an estimated value ranging from $1 million to $1.2 million, the equivalent of HK$8,000,000 to HK$10,000,000. The work sold for far less than the estimate, however, achieving $609,193, or HK$4,700,000, including buyer's premium.
$ HK$ ₱ Christie's Hong Kong euro