: A recently discovered Rembrandt self-portrait dated 1634 sold at
Sotheby's on July 10 for $11.3 million - the highest price ever
achieved for a Rembrandt self-portrait and the fourth highest
price ever paid at auction for a work by the artist.
The painting sold to the American collector Steve Wynn, who bid
by telephone and who bought the painting after a lively battle
with a determined private collector bidding in the room. The
self-portrait was the highlight of Sotheby's Old Master paintings
sales, which were conducted in two parts and made a combined
total of $36.6 million. The sale saw many works exceed their the
presale estimates, with new auction records set for works by
Jean-Marc Nattier and Giulio Cesare Procaccini.
Alex Bell, head of Old Master paintings at Sotheby's in London,
said: "We were delighted with the price achieved by the portrait,
which fully reflects the importance of the work and its
intriguing history. The painting will now go on public display in
Las Vegas and we are very glad that the wider public will have an
opportunity to see it at first hand.
"In addition to the Rembrandt," Bell continued, "the sale saw
strong, competitive bidding throughout, with some exceptional
prices achieved for works by Vernet, Vanvitelli, Carracci and
many others. The sales confirm that quality works which are fresh
to the market are as sought-after as ever, and demand for Old
Master paintings remains extremely strong."
The Rembrandt self-portrait, which was hidden for more than 300
years behind layers of overpaint, will now be hung in the Wynn
Resorts Collection in Las Vegas, where it will be on view to the
public. The striking image of one of the world's most celebrated
masters recently emerged after more than two years of painstaking
cleaning and is the first Rembrandt self-portrait to appear at
auction in the last 30 years. (The last one sold at Sotheby's in
1973). It is also one of only three known Rembrandt
self-portraits still in private hands. Sold by a descendent of
the French collector Paul Page, the painting exceeded its presale
estimate of $6.5/9.8 million by a healthy margin.
"Self-Portrait With Shaded Eyes" had previously lain concealed
beneath the reworking of one of Rembrandt's pupils who, shortly
after the work was executed in 1634, transformed the portrait
into a fanciful study of a flamboyantly dressed Russian
aristocrat. After various attempts at cleaning by curious owners
in the Twentieth Century, the painting was taken to Amsterdam in
2000, where it was subjected to careful research and restoration
by Ernst van der Wetering, head of the Rembrandt restoration
project, and Martin Bijl, former head of conservation at the
Rijksmuseum in Amsterdam.
Another rediscovery, that of Annibale Carcci's "Montalto
Madonna," also performed well. Estimated at $490/800,000, the
important work, previously considered lost, made $1.29 million.
One of the most famous paintings of its time, Caracci's "Montalto
Madonna" was copied repeatedly by generations of artists in Rome,
both in painted and in engraved form. Some time after 1672, the
small copper panel disappeared and for more than 300 years it was
considered lost. It appeared at Sotheby's counter several months
ago and, following months of research by Letizia Treves of
Sotheby's Old Master paintings department, its entire history
from the time it was painted to the present day was
reconstructed.
View paintings also performed well. Estimated at $1.9 million to
$2.6 million, a pair of paintings by Claude-Joseph Vernet
(1714-1789), which once belonged to Robert Clive, or "Clive of
India," made $3.8 million. Originally commissioned by Stanislas
II Augustus Poniatowski, the last king of Poland, the two works
found their way into Clive's collection after the king of Poland
failed to settle his account with Vernet. Sold in their original
frames, the two contrasting works (titled "Calme: A Landscape at
Sunset with Fishermen Returning with Their Catch" and "Tempete: A
Shipwreck in Stormy Seas") rank among Vernet's finest seascapes.
Other highlights included two works by Gaspar van Wittel, called
Vanvitelli, both of which more than tripled their presale
estimates. "Rome, a View of the Apse of Saint Peter's Basilica"
sold for $3.3 million against an estimate of $650/980,000, while
"Naples, A View of the Darsene" made $3.1 million against an
estimate of $800,000 to $1.1 million Not previously identified in
any of the literature on the artist, the two works represent an
important addition to Vanvitelli's body of work.
Previous records for two artists' works were also broken at the
sale when Jean-Marc Nattier's "Portrait of Madame de Pompadour"
made $777,140 and Guilio Cesare Procaccini made $539,430.
Rounding out the top ten in part one of the sale were "The Birth
of the Virgin" by Luis de Morales, called El Divino Badajoz,
which sold for $960,000; Peter Brueghel the Younger's "Spring:
Gardeners Digging and Planting a Formal Garden," $832,000; and
Bartolome Esteban Murillo's "The Immaculate Conception,"
$557,710.
While most of the highlights occurred during part one of the
auction, a number of works featured in part two handily exceeded
their presale estimates. Among the top three in this session were
"Portrait of Gabriele Tadino," studio of Tiziano Vecellio, called
Titian, $329,140; "Study of the Head of An Old Man," attributed
to Andrea di Leone, $140,000; and "Still Life of Grapes, Peaches,
Plums, Raspberries and Cherries," by Johannes Hannot, $92,080.
All prices quoted above include buyer's premium.
