Durer drawing bought for US$30 at yard sale worth more than $10 million, experts say

A 16th century drawing by one of the key figures of the German Renaissance has been valued in excess of US$10 million after it was initially purchased at a yard sale for just $30 in 2017.

According to Agnews Gallery -- the London auction house in possession of the artwork -- Albrecht Dürer, who died in 1528, is regarded as both the greatest German artist of his time and as one of the most important artists and intellectuals of the European Renaissance.

The drawing that has been rediscovered is titled "The Virgin and Child." As Dürer's career and legacy has been studied in depth since his death, it is extremely rare to find unknown works of his and Agnews said in a press release that this drawing has been "the subject of significant interest since its rediscovery."

Boston-based art collector Clifford Schorer, who is a consultant to the gallery, told CNN Thursday that he came across the rare artwork, thought to have been completed in 1503, by chance on the way to a party in Massachusetts in 2019.

He had forgotten to bring a gift to the party and so took a detour to a bookstore, which sold collectable volumes, en route.