VANCOUVER, BC.- Maynards Fine Art and Antiques announced that the newly discovered Tom Thomson oil on board sold for $126,500, at its Contemporary and Canadian Art Auction on Wednesday May 16, 2012. The Group of Seven Frederick Varley watercolour also found at the same yard sale sold for $7,475 (all sale prices include Buyer’s Premium).

Purchased together at an East Vancouver yard sale for less than one hundred dollars, both paintings were brought into Maynards Fine Art and Antiques for appraisal in early 2012. The newly discovered Thomson sketch of a lake in Algonquin Park is believed to be painted in Spring/Summer of 1915, two years before his untimely death. The winning bid was 2,530 times the original purchase price. The Varley watercolour brought 150 times its purchase price. It depicts a view of Sheffield, England, and it is believed Varley painted it prior to moving to Canada and becoming a member of the Group of Seven.

“We at Maynards are pleased on behalf of both the consigner and buyer of these pieces of true Canadian fine art,” stated Kate Bellringer, Director of Contemporary Art for Maynards Fine Art and Antiques. “It was a smart purchase, a good investment and a great ending to an incredible story.”

The experts in Maynards Fine Art and Antiques department are known for their meticulous attention to detail. In addition to auction consignments, their expertise is often called upon in private sales where their decades of knowledge assist in finding new and rewarding homes for significant art works. Maynards Vancouver recently moved from its landmark location at Cambie and 2nd Avenue to a new location at 1837 Main Street, featuring an 8,500 square foot auction gallery showroom. The showroom is open to the public from 9:00am to 5:00pm Monday-Friday and 10-4pm Saturday.