Oil Painting

Just got an amazing oil painting at a junk store for $20! Heiko thinks it's odd, but I loved the colors.

It was cheap because it has 2 rips, but being an optimistic person, I thought they could possibly be disguised with black shiny beads thrown on, cascading down the side. Maybe decoupaging sheer grey fabric over the holes? Any other ideas on canvas repair?? Slapping on some oil-based paint? I wish I was a painter instead of a fixer.