Earliest Known Work of Art?

Is the so called Venus of Tan Tan the earliest known piece of art? Found in Morocco in 1999 on the north bank of the Draa River south of the town of Tan Tan, the figure has been dated between 300,000-500,000 BC. It is made from quartzite and appears to have been painted with red ochre.

Some believe it was deliberately carved – others believe that natural weathering produced this form.