Costa Mesa : Impressionist Work May Net Very Impressive Sum

Twenty years ago, when Joe Perel of Costa Mesa bought an original oil painting at a London art shop for 50 pounds--then about $143--he knew he got a deal, but he never dreamed he had a half-million dollar painting on his hands.

“I thought it was a great deal because the painting was so beautiful,” Perel said. “I wasn’t thinking about monetary value, so I never put a number on it. I just thought it was a nice thing to own.”

Recently, Perel took the painting to a Newport Beach gallery for cleaning. To Perel’s astonishment, art dealer Fred Rash told him the piece by Italian impressionist Virgilio Constantini was worth $500,000, perhaps more. Other art dealers have estimated as much.

Perel, an independent sales contractor who considers art collecting a hobby, may be rich soon.

“I love this painting, but not that much,” he said. “I’m definitely going to sell it.”

The 28-by-30-inch piece, titled “The New Kimono,” depicts two women, one in a Japanese brocade gown, the other sitting and admiring it. The work’s creator is an obscure turn-of-the-century impressionist whose work only recently has gained respect.

Rash, operator of Fred Rash Sr. Gallery, said the painting is in the same class as works by impressionists Edouard Manet and Edgar Degas.

“It’s first-class,” said Rash, who is acting as a non-exclusive agent for Perel. “It has excellent composition, color scheme and design, and its subject matter is quite unique.” Rash said the inclusion of a floral bouquet beside one woman, and the capricious pose of both women, were unusual.

Although excited about the prospect of being rich, Perel said he is “somewhat bemused” by the assortment of hangers-on who have contacted him since the story appeared in a local newspaper.

“Everybody wants a piece of the action,” he said. “I’ve got art dealers calling me all the time. One guy agreed with the appraisal, but said he’d offer me only $300,000. I couldn’t believe it. He wanted 40% of the commission.”

Then there are the “weirdos,” he said.

“I’ve had lots of calls from women,” said Perel, a widower. “One lady called at 2 o’clock in the morning and asked me if I had a girlfriend. Another lady, from Pasadena, called and told me there isn’t a painting in the world worth half a million dollars. She said, ‘Who are you trying to fool?’ ”

Perel said he won’t believe it himself until he “gets the check from the bank,” but he already is dreaming about what he will do with the money.

“I’d like to set up an annuity, and I’ve always wanted to start a business, a fast-food-type restaurant,” he said.

Perel also wants to be more serious about art collecting, a favorite pastime hampered by his short pocketbook, he said.