CAMBRIDGE, UNITED KINGDOM – A lost watercolour and felt-tip illustration by the renowned surrealist artist Salvador Dalí, titled 'Vecchio Sultano' ('Old Sultan'), was sold on Friday, October 24, 2025, for £45,700 (approximately KSh 7.3 million) at a public auction. The artwork, initially purchased for a mere £150 (around KSh 24,000) at a house clearance sale in Cambridge two years ago, was acquired by an overseas buyer through the auction house Cheffins.

The piece was discovered by a local antiques dealer, who has been identified by the pseudonym John Russell, amongst the contents of a London garage. Russell was drawn to the piece by Dalí's signature in the bottom-right corner and Sotheby’s stickers on the reverse, prompting him to take a chance on its authenticity. His investment yielded a return of over 300 times its original cost.

The painting has been authenticated by leading Dalí expert Nicolas Descharnes as a genuine work from 1966. It is part of a largely unfinished and unpublished project commissioned in 1963 by Dalí's Italian patrons, Giuseppe and Mara Albaretto. The artist was tasked with creating 500 illustrations for the classic Middle Eastern folk tales, *One Thousand and One Nights* (also known as *The Arabian Nights*). However, Dalí abandoned the project after completing only 100 illustrations, many of which were subsequently lost or damaged.

Global Art Market Dynamics and Local Relevance

The sale of 'Vecchio Sultano' underscores the significant potential for high returns on investment in the international art market, where works by 20th-century masters like Dalí continue to command strong interest. Dalí's works, particularly his prints, have shown consistent market growth. However, the market is also fraught with challenges, including a high number of forgeries, making professional authentication a critical step for investors.

While this specific event has no direct ties to Kenya, it provides a valuable lens through which to view the country's own evolving art scene. The global art market is a space where Kenyan artists are increasingly gaining recognition. Contemporary Kenyan art has been featured in major international auctions, including sales at Sotheby's in London, which have seen local artworks fetch millions of shillings. Artists such as Kenyan-born British ceramist Magdalene Odundo have achieved international acclaim, with some of her pieces selling for over KSh 44.5 million (£300,000).

Kenya's domestic art market is also showing signs of growth and formalization. Nairobi is home to Circle Art Agency, which has been hosting annual auctions of modern and contemporary East African art since 2013, attracting both international buyers and a growing base of local collectors. In October 2020, the agency held Kenya's first online art auction, achieving a 90 percent sell-out rate and sales of KSh 14 million. Despite this progress, the local market remains relatively small compared to established international hubs. Initiatives like the annual Affordable Art Show, organized by the Kenya Museum Society, aim to cultivate a broader collector base within the country.

The Story of a Fortunate Find

The journey of 'Vecchio Sultano' from a garage to a prestigious auction house is a testament to the potential for discovering hidden treasures. The anonymous dealer who purchased the work was reportedly a fan of the BBC television show *Fake or Fortune* and decided to take a risk based on his viewing experience. Research following the purchase revealed that the painting had previously been offered for sale at Sotheby's in the 1990s with a full attribution to Dalí, though it did not sell at that time. The rediscovery is considered significant for Dalí scholars, as the loss of attribution for a work by such a major artist is rare.

Brett Tryner, a director at Cheffins, noted the high level of interest in the sale, stating, “Dalí originals just don’t come up that often.” The painting's unique, non-surrealist style, a departure from Dalí's more famous works, was described by Tryner as a "Marmite picture"—one that people either love or hate. The successful sale demonstrates a continued global appetite for rare and authenticated works by historically significant artists, a market that remains a powerful, albeit unpredictable, force in the world of alternative investments.