In March, Macklemore revealed that he'd bought a painting on Etsy of a nude Justin Bieber balancing a pancake on his you-know-what. Why did he do this? He told TMZ in a video posted Friday that he keeps the painting at his studio as "an investment piece"—but it turns out there's more to the story. 

"I think that that painting is going to be worth a lot of money," he said at first. Macklemore explained the painting only cost $20 when he bought it. Then, "the minute that the Justin Bieber album went number-one, I'm pretty sure that painting went to about 30, 33 bucks. Do the math, man."

According to Etsy (warning: NSFW), the painting actually sells for $25. The creator, "Painter of Pancakes" Dan Lacey, describes it on the page simply as "my painting of Justin Bieber, nude, with a pancake." Lacey, who's also known for the paintings of Prince he creates in Paisley Park, told Complex that Macklemore bought the painting right before Christmas along with a painting of Michael Jackson and another item he declined to disclose. 

"I think I just saw a photograph of [Bieber] in that position, and I immediately saw him nude with a pancake on his crotch," he said. "It just seemed to be a very natural reaction because I think in pancakes."

Image via Twitter @Maria Pasquini

While Macklemore's explanation for his purchase may make him sound like an aspiring investor, the truth came out later in the TMZ interview. In reality, Macklemore bought it as a white elephant gift and the person who won it left it at his studio. Looks like it wasn't worth too much to him or his white elephant party guest originally, but it seems he's since grown to see its value.

Lacey believes the painting's value is far more than its monetary worth, however. Good art, he said, is "worth more than money because that inspires you to greater things. It inspires you to be all that you can be." 

Still, when TMZ asked if the painting inspired Macklemore's music, he answered, "probably not." 

UPDATED 1:19 p.m. ET: This story was updated to include comment from Dan Lacey.