Yes, people throw out oil paintings. Yes, it's a tad damaged here and there - but I still wouldn't throw out a nice oil painting! Not the best art piece I've ever seen, but it's still something nice to look at.
And hey I'll face the truth - I certainly couldn't have done half as good a job as this.
If anything the damage gives it some shabby chic, some character... if you will.
It's actually sitting on a metal book stand, which I found at the op shop for $5.