Painting by Nicolae Grigorescu, valued at only 3 lei and 50 bani, at the Art Museum in Ploiești

A painting by Nicolae Grigorescu, held in the collection of the Ploiești Art Museum, is currently valued at just 3 lei and 50 bani, although works signed by the artist can reach hundreds of thousands of lei. Other works by the Romanian painter owned by the institution are estimated at 868,000 lei.

The unusually low value stems from an appraisal conducted during the communist period, when works of art were entered in inventories at reduced amounts. The museum’s director, Florin Sicoe, says the situation is not unique and that, after 2000, heritage legislation introduced new conditions for appraising collections.

The museum’s paintings were last reappraised in 2017. The institution’s management says there are currently insufficient funds to resume the procedure, while the Prahova County Council is expected to get involved when the budget allows.

Appraising a painting signed by Nicolae Grigorescu can cost between 5% and 10% of the work’s value. For a work estimated at 400,000 euros, the appraisal cost can reach 40,000 euros. The Ploiești Art Museum has one of the most modern storage facilities for preserving paintings in Romania.