Vancouver Islander Alan Meacham bought a bronze sculpture that was attributed to Henry Moore from Kilshaw’s Auctioneers for $20,000 because he thought the work was worth a great deal more due to its similarity to another series Moore made (above). The work was owned by the heirs of a foundry worker who got it from a dissatisfied Moore. What the work is worth now, is a lesson in what creates value in the art market:

Meacham’s 18.5-centimetre sculpture portrays a stylized armless figure on a bench. It resembles Moore’s Armless Seated Figure Against Wall. A casting of that 1957 piece was sold by Christie’s auction house for $77,675 US in 2003. […]

[Kilshaw’s owner Alison] Ross disagrees with Meacham’s assessment of the sculpture’s worth. She maintains $20,000 is a fair price for the piece. She said it sold for such a price because it’s a small, unsigned work. As well, it’s an early attempt to create Armless Seated Figure Against Wall.

“It’s not the final version Henry Moore wanted,” Ross said.

Henry Moore sculpture bought at auction could be a bargain (Times Colonist)