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An art expert has spotted a painting valued at up to £1m, which was once sold to help fund Nelson Mandela’s legal defense, being used as a noticeboard in a London flat.

The painting, Arab in Black, a 1939 work by Irma Stern – regarded as South Africa’s leading artist, whose works have recently been soaring in value – was recognised by Hannah O’Leary, a specialist in South African art at Bonhams auction house, during a valuation visit to the flat.

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The former owner of a disputed Caravaggio has lost his battle for compensation from an auction house. Lancelot William Thwaytes sold "The Cardsharps" at Sotheby's in 2006 for £46,000 after being told it was by a follower of the Old Master.

The new owner subsequently insured the painting for millions - after a close friend, an art expert, claimed it was in fact an original Caravaggio. Sotheby's maintains the painting is not by the artist.

Mr. Thwaytes attempted to sue Sotheby's of London, for giving him negligent advice after the new owner had the artwork valued at £10m. Lawyers for Mr. Thwaytes accused Sotheby's of not consulting enough top experts or sufficiently testing the painting before the 2006 sale.

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This Wednesday, John Wilson, Executive Director of the Timken Museum of Art in San Diego, is set to give a gallery talk titled “Brave New World: from Icons to the Future.” As I write this, that’s what the museum website says.

It may be a broken link by the time you read this post, though, because Wilson quit or was pushed out last week, just before the holiday. His name has been removed from the Board/Staff page of the site, though his replacement’s name isn’t yet there. That would be, according to various reports, David Bull, the well-known conservator and expert on Old Master paintings. Bull is founder and president of the Fine Art Conservation & Restoration in New York and paintings conservator at the National Gallery of Art.

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An artist's work is more valuable if they have a short life, a torrid romantic affair or go mad, a leading art expert has said. He suggests it would "not be a bad thing" commercially if certain painters were to die young.

Philip Hook, a senior director at Sotheby's and former Antiques Roadshow expert, said a short life made the price of a piece of art rise, avoiding the tricky "late period" of older artists.

Saying "no-one would want" British artist David Hockney to have died young, he conceded it is likely that it would have made his work more valuable.

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