Record Sale of Pauline Palmer Painting Breathes New Life into Co-Founder of Chicago Antique Market A Pauline Palmer painting, owned by Sally Schwartz, of the Chicago Antique Market, recently sold for $120,000, more than double the artist’s previous record high, according to auction records.
News-Antique.com - Sep 27,2007 - A Pauline Palmer painting, owned by Sally Schwartz, co-founder of the Chicago Antique Market, recently sold for $120,000, more than double the artist’s previous record high of $50,400 according to auction records on AskArt.com.
Pauline Palmer, eulogized as “Chicago’s Painter Lady,” lived from 1867-1938 and painted portraits and landscapes in the impressionistic style.
Originally purchased from the Art Institute of Chicago by Schwartz’s grandparents, Lillian and Nathaniel Summerfield, Schwartz has owned the painting for the last 25 years, having inherited it from her grandparents.
Schwartz first started to consider the value of some of the items she owned upon meeting Daryle S. Lambert, author of the book, “31 Steps to Your Millions in Antiques & Collectibles” and head of its spin-off wealth building club, the 31 Club. Schwartz is a 31 Club charter member and Lambert has become the market’s unofficial advisor and confidant.(http://www.31corp.com)
Shortly after meeting Lambert, Schwartz’s Chicago Antique Market partner expressed her desire to move on to pursue other interests, so Schwartz began to actively pursue ways to buy her partner’s interest, rather than take on a new partner or close the market the two founded together. Exploring the possible value of her Palmer painting was the next logical step.
The decision to sell the painting was not an easy one for Schwartz. “When I knew I wanted the market more than I wanted the painting, I knew what to do,” she said.
Local gallery representatives were encourage the piece could bring a very good price if it was sold, and one gallery was successful, this summer, in securing a buyer for Schwartz. At a sales price of $120,000, the painting brought more than Schwartz ever imagined it would bring. The previous record sale for a Pauline Palmer painting, according to auction records at AskArt.com, was $50,400 for “The Yellow Girl” in May of 2005.
As ownership of the Chicago Antique Market transitions and Schwartz takes the helm solo, watch for it to take on a fresh and exciting new life of its own.
About Chicago Antique Market:
The Chicago Antique Market, hailed by Travel and Leisure as one of the top three national urban antique markets, with its festival atmosphere, takes place the final Saturday and Sunday of each month May through October from 9a.m. to 5 p.m. and features more than 200 dealers selling everything from a wide range of antiques to vintage collectibles. The indoor/outdoor market has earned a national reputation as one of the finest in North America, and has been compared to the Paris Flea Market. In Time Out Chicago, Nate Berkus, designer of Oprah fame, raved “I love the Chicago Antique Market on West Randolph Street. That is something this city was seriously lacking. The quality of the merchandise there is incredible.” (http://www.chicagoantiquemarket.com)
About 31 Club.:
31 Club instructs members in wealth building within the antiques, collectibles, and fine art markets and maintains a growing marketplace and gallery with many consigned pieces. The company aims to create industry millionaires through its