Colin Gleadell reports on the Indian artist, Ram Kumar, whose work was discovered in a house in the English countryside and sold by a regional auctioneer who had the good sense to get it displayed in London. The final sale was for £200k:

Entitled ’In the City’, the painting was discovered in a private house in Devon, the owner being unaware of its value, and sent to David Lay Auctioneers in Penzance where it was given an estimate of £30,000 to £50,000.

On the day, there was no one in the room bidding on it. Instead, Lays had to set up 14 telephone lines to take bids from interested buyers who had either seen it on the internet, or at the Grosvenor Gallery in London, which specialises in Indian art, and had exhibited the work prior to the sale.

Art Market News (Telegraph)