A painting bought for £10 could sell for £1 million — the story behind 100 years of history

In the UK, a painting purchased nearly 100 years ago by a family for £10 could now be sold at auction for £1 million. This was reported by The Guardian.

The story is about a painting titled Going to the Mill by famous British artist Laurence Stephen Lowry. Interestingly, the painting was bought in 1926, when the artist was still unknown, by The Guardian editor Arthur Wallace.

An overpriced deal — and a bonus painting

According to Arthur Wallace’s grandson, Keith Wallace, Lowry sold the artwork for £10 but felt he had set the price too high, so he gifted another painting to Wallace as well.

Nearly a century later, Wallace’s heirs decided to sell this historic piece at auction. The painting will go on sale in May 2025 in London through the auction house Lyon & Turnbull.

The artist’s signature style — for the first time

According to art expert Simon Hacker, this painting is one of Lowry’s earliest and most significant works:

“There’s a mill, chimney, domed roof, and a wall full of windows — these elements would become the hallmark of Lowry’s work over the next 30 years,” said Hacker.

The painting remained uninsured until 2013

Keith Wallace also shared another interesting detail: the painting Going to the Mill was hanging in his mother’s house and had never been insured until 2013. It was only after 80 years that it was first displayed in a gallery in Chichester, UK.

A work bought from an unknown artist for just £10 a century ago is now valued at £1 million — proving that the true value of art is revealed over time. Perhaps it’s time to take a second look at the old paintings hanging in your own home? Read 'Zamin' on Telegram!