Why did Bill Perkins pay $15 million for Ernie Barnes's Sugar Shack?

Bill Perkins paid a total of $15 million at Sotheby's for Ernie Barnes's Sugar Shack after planning to spend three to five million. He had loved the painting since childhood, when it appeared on Marvin Gaye's album and in the credits of Good Times. He argues that museums' historical neglect of African-American art left such works underpriced, an arbitrage he was happy to take, and says the sale reset the market for Barnes.

• Perkins says the work he bought is the second version Barnes painted after altering the first for Marvin Gaye.
• Perkins says the rival bidder, an art consultant two rows ahead, turned and told him he would not stop.
• Collector John Arnold alerted Perkins to the sale, and the painting is now on loan to museums.

Source: our own transcription of the episode. The full conversation is on My First Million (2026-11-02). Read the whole episode summary →

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