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    Millions of dollars worth of Arthur Pinajian art found in NY house

    10:30 AM, Mar 8, 2013   |    comments
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    BELLPORT, NY (CNN) -- Two home buyers on New York's Long Island are cashing in big time after buying a bungalow a few years back for $300,000. There was a big find in the house worth an estimated $30 million!

    Thomas Schultz found thousands of painting, drawings and journals by obscure artist Arthur Pinajian, who used to own the place.

    They were stashed in the attic and garage.

    The artist died in 1999, at the age of 85, and had left instructions for his family to send all his works to a local landfill. But the family ended up keeping his art.

    In buying the house, Schultz and an investor spent a measly $2,500 dollars for the art. Schultz felt it would be bad karma to toss it all out. He says, "Upon my first inspection of the house, I discovered all this artwork, and recognized right away that it was the artwork of one man, because the signature was consistent and that according to the dates, it spanned over almost 60 years of a man's life and although I had directions to throw this artwork out, I refused to do so, because it was someone's life's work."

    An appraisal subsequently found the art collection is worth about $30 million.

    Some of the artwork has been auctioned off with some works going for half a million dollars.

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