Salvator Mundi, the long-lost Leonardo da Vinci painting of Jesus Christ commissioned by King Louis XII of France more than 500 years ago, has sold at Christies in New York for $450.3m, including auction house premium, shattering the world record for any work of art sold at auction. On July 12, 2011, $75M was equivalent to 53M. Kenneth Griffin acquired it in 2004 from Wynn. It's with you at $28 million. He's the head of the Books, Maps and Manuscripts department at Freeman's Auction House in Philadelphia. She was universally considered to be the painter's sitter. PETERSON-WITHORN: So I thought this was super fascinating that you could actually consider a work of art as something that could not only hold value and appreciate in value, but could also be a business, generating income for its owner over time. He was also frequently consulted as a technical adviser in the fields of architecture, fortifications, and military matters, and he served as a hydraulic and mechanical engineer. This is the mirror where we flip it around, and now here it is in English. The London art dealer Philip Mould called the idea of including Salvator Mundi in a contemporary sale inspired. Scholars have been unable to agree in their attributions of these works. Simon has said that it took a couple of years after they bought the painting to become convinced himself that he was dealing with an original work by Leonardo. 31 of the Most Expensive Paintings Ever Sold at Auction Many factors seem to have converged to create this flourishing moment for true art crime. He decided that the Codex's fair market value was $50 million. Here's how much the artwork is worth! And so I think it's, you know, not so much, Let's look at it and see what would happen if we took scissors to it and divided it up. But just to say, Here we have something of such significance, partly because it has survived 500 years without, you know, being destroyed.. But it does have two anonymous sources, their faces hidden on camera, identified as high-ranking French government officials who had access to the Louvre's studies of the painting and to the French-Saudi negotiations. Thanks for joining me. Leonardo grew up on his fathers familys estate, where he was treated as a legitimate son and received the usual elementary education of that day: reading, writing, and arithmetic. At the height of the auction, as many of six bidders were in play. One of two pastel versions; another two painted versions (and lithography) exist, all created by Munch. TINDERA: I'm looking through a copy of whats now called the Codex Leicester, which I purchased online for about $30. TINDERA: I'm Michela Tindera, and this is Priceless. One of my hats I wearI'm a capitalist. So Gates sort of went out and bought the ultimate book. TINDERA: On sale is a one-of-a kind Leonardo da Vinci manuscript known as the Codex Hammer. On Sunday, May 29, a man disguised as an old woman in a wheelchair threw a cake at the Mona Lisa, Leonardo Da Vinci's legendary painting at Louvre, Paris. As a painter, Leonardo completed six works in the 17 years in Milan. Fifty-fivefive-point-five million dollars to start it. On permanent display at the Louvre in Paris, the Mona Lisa was assessed at US$100 million on 14 December 1962. Salvator Mundi, the long-lost Leonardo da Vinci painting of Jesus Christ commissioned by King Louis XII of France more than 500 years ago, has sold at Christie's in New York for $450.3m . Amid all of that the Codex went back to Christie's in 1994, where it was once again expected to bring $10 million. Art restorer Dianne Modestini in a scene from The Lost Leonardo, one of two new documentaries about the Salvator Mundi (Credit: Sony Pictures Classics/Entertainment Pictures). Knowingly or not? He currently resides in Vinci, Italy. The buyer was anonymous, but the New York Times soon revealed him to be acting for bin Salman, a discovery that catapulted the painting into the geopolitical realm. The Virgin and Child with St Anne was painted by Leonardo Da Vinci in 1510. Taking inflation into account, the 1962 value would be around US$900 million in 2021.[3]. Within two days he sold it to Rybolovlev for $127.5 million. TINDERA: Gates is up against a group from a bank in Milan thats sitting in the front of the Christie's salesroom. "And it is involved therefore in the politics around culture. Two years later, some colourful characters entered the game. One of the sources says the Louvre concluded that Leonardo merely "contributed to the painting," but that bin Salman would only approve the loan if the Salvator Mundi were labelled an authentic Leonardo. She spent years restoring the painting, and passionately defends its authenticity in precise detail, pointing out the pentimento under Christ's thumb or a curve of his mouth that could only be Leonardo's. The image of Christ as The Saviour of the World was billed as The Last da Vinci at Christie's 2017 auction, where it sold for a record $450 million (342 million) to a proxy for bin Salman (yes, that bin Salman, whom the CIA found responsible for ordering the murder of the journalist Jamal Khashoggi). What was Leonardo da Vincis family like? Why do bad things happen to Most art world observers thought the Salvator Mundi would be the centrepiece of a new museum or art centre in the region, but the painting has not been glimpsed in public since. The Top 10 Most Expensive Paintings Ever Sold At Auctions 10. Leonardo da Vinci - 205 artworks - painting - WikiArt TINDERA: Hypothetically though, Simon explained that our logic of taking one drawing and reviewing the sale price of that to extrapolate what a whole manuscript filled with drawings might be worth was something he considered in his own appraisal. Christies CEO, Guillaume Cerutti, said he did not know whether the buyer would reveal themselves. [note 1] Where necessary, the price is first converted to dollars using the exchange rate at the time the painting was sold. A jump to $370. As a master artist, Leonardo maintained an extensive workshop in Milan, employing apprentices and students. Earlier this summer, very fittingly, as the country's oldest auction house, they sold a copy of the Declaration of Independence for $4.4 million. The general attitude toward art crime, he says, used to be shrugged off as "it's billionaires spending money, crooking each other", but today there is a realisation that "no, you can't loot that country's entire cultural heritage". I cannot say if he or she will want to be public.. They brought it to Dianne Modestini, a highly respected restorer, who removed decades of grime and overpainting, and was the first to suspect it might be a true Leonardo. This time, though, it sold for three times that in the battle we heard about at the beginning of the episode between Gates and the Italian bank. Leonardo da Vinci, (Italian: Leonardo from Vinci) (born April 15, 1452, Anchiano, near Vinci, Republic of Florence [Italy]died May 2, 1519, Cloux [now Clos-Luc], France), Italian painter, draftsman, sculptor, architect, and engineer whose skill and intelligence, perhaps more than that of any other figure, epitomized the Renaissance humanist ideal. Head of anApostle. I'm going to show it all over the world.. ", https://www.telegraph.co.uk/luxury/art/art-sales-russian-buyers-inject-confidence-into-old-master-marke/, Picasso piece sets record for art sold at auction, qatar may have purchased Warhol's 'Eight Elvises', "Nahmads confirm Picasso's $115m flower girl will go to Paris", "Rockefeller Picasso sells for $115 million including feesauthor=Robert Frank", "DIC Sells 'Anna's Light' Painting For Y10.3bn Gain", "Regarding extraordinary profit associated with the sale of a certain painting owned by the company and revision of its consolidated operating result forecast", "How Basquiat Became the $60 Million Man", "A Basquiat Sells for 'Mind-Blowing' $110.5 Million at Auction", A Monet Sells for $110.7 Million, an Auction High for an Impressionist Work, "Qatar bought Ford House's $100-million Cezanne", "$100M for Czanne painting? A major turning point came when the painting was controversially displayed as an authentic Leonardo at a 2011 exhibition at the National Gallery in London. Everyone agreed, like Robert Simon said, that were it to go up for auction today. How much is the Mona Lisa worth as legendary painting gets caked at Louvre? Nonetheless, Leonardos notebooks reveal a sharp intellect, and his contributions to art, including methods of representing space, three-dimensional objects, and the human figure, cannot be overstated. CHASE PETERSON-WITHORN: Hi, Michela. The final winning bid? By 1508, Leonardo returned to Milan, working for the French rulers of the city. That boosted this forgotten painting into the limelight and kickstarted the. Five-point-five million dollars to start. That sold for $3.6 million at Sotheby's in New York in 1986. [6] Though the Louvre Museum had turned down the opportunity to purchase it for 100 million,[7] the painting was estimated to sell for $110 to $170 million. In the end, the picture was placed in Christies postwar and contemporary evening sale, wedged between lots of work by Cy Twombly, John Currin, Keith Haring and Jean-Michel Basquiat. The rest are owned by museums around the world. He had just gotten married to Melinda Gates on New Year's Day of that year and was in the middle of building his multi-million-dollar mega mansion, Xanadu 2.0. Quiz: Ancient Illustrations Showing Us the Way, https://www.britannica.com/biography/Leonardo-da-Vinci, Social Studies for Kids - Biography of Leonardo da Vinci, Humanities LibreTexts - Leonardo da Vinci, Art Encyclopedia - Biography of Leonardo Da Vinci, University of California Museum of Paleontology - Biography of Leonardo da Vinci, Web Gallery of Art - Biography of Leonardo da Vinci, Leonardo da Vinci - Children's Encyclopedia (Ages 8-11), Leonardo da Vinci - Student Encyclopedia (Ages 11 and up), Art and accomplishment: Leonardo as artist-scientist, Art and accomplishment: Painting and drawing. Billionaires just live in a different world. We also spoke with Stephen Massey, who we heard at the beginning of this episode. However, weeks after the grand opening of his museum, where he planned to showcase the Codex and other art he had collected over the years, Hammer died at the age of 92. In 1993, Simon was hired by the trustees of the Armand Hammer Museum to do an appraisal of the Codex back when it was known as the Codex Hammer. The disciples, devastated by Christ stating one of them would cause his death, convey their feelings dramatically through their body language. Contemporary art, Mould told the Guardian, is where all the big money is. Rybolovlev resold Gauguin's Otahi before 2017 for less than $50 million. It's on the last telephone at $28 million. Two new documentaries delve into the ongoing saga of Leonardo da Vinci's Salvator Mundi in a moment when true art crime stories are at their peak, writes Caryn James. The piece is sold.. In fact, it was also noted in the Codexs 1994 auction catalogue written by late da Vinci scholar Carlo Pedretti, that the Mona Lisa is, "indeed a visual synthesis of Leonardo's scientific knowledge as summed up in the Codex.". But if our maximum value isn't $4 billion, then what is it? The New York Times confirmed rumours that the Louvre wouldn't accede to bin Salman's demand that his painting be displayed in the same room as the Mona Lisa, giving it near-equal status. Please select which sections you would like to print: Director, Central Institute for the History of Art, Munich, 194770. Leonardo grew up on his fathers familys estate, where he was treated as a legitimate son and received the usual elementary education of the day: reading, writing, and arithmetic. Bin Salman himself visited President Emmanuel Macron in Paris while the loan was dangling in the balance. This possibly-Leonardo treasure's route to fame began when it surfaced at an obscure New Orleans auction house in 2005 and was bought by two New York dealers for a measly $1,175. TINDERA: That average of every expert opinion worked out to about $130 million. Before Rybolovlev, Salvator Mundi had been owned by a consortium of dealers including Alexander Parish, who had picked it up for $10,000 at an estate sale in the US in 2005, and had had it restored and authenticated. TINDERA: Slicing up and selling off a beautiful manuscript or book is not without precedent, though, Robert explained to us. TINDERA: But admittedly, Darren told us that he wasn't a da Vinci, or Codex expert and was hesitant to put a value on it out of the gate. In 2011, the National Gallery included it in the exhibition Leonardo da Vinci: Painter at the Court of Milan. ROBERT SIMON: My name is Robert Simon. In 1482 Leonardo moved to Milan to work in the service of the citys dukea surprising step when one realizes that the 30-year-old artist had just received his first substantial commissions from his native city of Florence: the unfinished panel painting Adoration of the Magi for the monastery of San Donato a Scopeto and an altar painting for the St. Bernard Chapel in the Palazzo della Signoria, which was never begun. One of the most famous paintings in the world, the Last Supper was commissioned by Ludovico Sforza, duke of Milan and Leonardo's patron during his first stay in that city, for the Dominican monastery of Santa Maria delle Grazie. ARCHIVAL CLIP OF ARMAND HAMMER: I guess I'm wearing a great many hats. And we can go into the auction record and look at previous copies of that exact same book, when it sold, where it sold, what its estimate was, what it brought. "I'm absolutely sure that six months down the road or a year, there's going to be some kind of new information, whether true or not, that's going to blow up everywhere in the news media," Dalsgaard says. And it was a challenge. I think it's the greatest acquisition I ever made. Two of his most important worksthe Battle of Anghiari and the Leda, neither of them completedhave survived only in copies. Yves Bouvier, a Swiss art dealer, bought the painting from the New York dealers for $83 million, reportedly on behalf of his client, a Russian oligarch named Dmitry Rybolovlev, though this is disputed by Mr Bouvier. DARREN WINSTON: Once we've decided that the book is worth looking at for its condition, for its provenance. After the sale, Pylkknen said the sale had been his ultimate privilege. The Battle of Anghiari by Leonardo da Vinci. The 16th-century writer Giorgio Vasari indicated that Leonardo cared little for money but was very generous toward his friends and assistants. And if Gates himself had the Codex appraised since he bought it. A Malevich Suprematist Composition sold for $85.8 million at Christies, breaking the record for a work of Russian art. Probably, they knew there was room before the end of the competition., They wanted to get the job done quicker, but it still took a long time.. Mona Lisa. SIMON: These went into the mix. PETERSON-WITHORN: Art is one of the toughest things we value for our lists, because the value is just so subjective, and you really don't know what something will sell for until it hits the auction block. Ford House couldn't refuse", "Secret $100 Million Czanne Sale in Detroit artnet News", "Chteau Ptrus Makes a Record-Breaking Saleof Art", Roman Abramovich brings home the $86.3m Bacon and the $33.6m Freud, "Femme assise prs d'une fentre (Marie-Thrse), 1932", Auction; `Blue' Picasso Breaks Record at $51.7 Million, Works by Johns and de Kooning Sell for $143.5 Million, "Russian Billionaire Takes 74% Loss on $85 Million Gauguin", "Now hanging at the Art Institute: Chicago billionaire Ken Griffin's new, $100 million Basquiat canvas", "Ken Griffin Buys Basquiat Painting for More Than $100 Million", The Getty secures masterpiece portrait by Titian, Mark Rothko painting sets post-war auction record, Hopper Painting Sells for Record $91.9 Million at Christies, "ARTnews: Cohen Buys Two Works from Wynn in $120M Deal", David Hockney Painting Sells for $90 Million, Smashing Record for Living Artist, "Post-War and Contemporary Evening Sale Fine Art Auction Search Results Christie's", "Revealed: $72.8m Rockefeller Rothko has gone to Qatar", https://www.msn.com/en-us/news/world/the-heirs-of-a-jewish-banker-are-taking-a-japanese-company-to-court-over-an-allegedly-nazi-looted-van-gogh/ar-AA15sviM?ocid=msedgntp&cvid=cc9460cf2a05415db49f7eb48ba01da2, "How Robert Rauschenberg 'rewrote the rules of the game', "Report: Alice Walton Was Buyer of Record-Breaking $88.8 M. Rauschenberg at Christie's", A Warhol Leads a Night of Soaring Prices at Christies, Andy Warhol's "Triple Elvis" auction results, "Basquiat's In This Case headlines Christie's inaugural 21st Century Evening Sale at $93,105,000". But no one thought it was still worth the $30.8 million Gates paid for it. This episode was reported by Michela Tindera, produced by Michela Tindera and Jonathan Palmer, with additional research by Sue Radlauer. It looks interesting. And trying to balance them And of course, one of the things in doing an appraisal like this is you just don't put them in a mix, whatever. 10 Secrets of The Mona Lisa by Leonardo da Vinci For her part, Modestini has documented her work and the scientific studies of the painting, and published them online. Price excludes sales commission and other costs. The film doesn't take a stand on the painting's attribution, but makes it clear that museums, dealers and potential buyers had millions to gain along with incalculable prestige by choosing to believe it is a true Leonardo. At that time this was the 4th highest (unadjusted) price at auction and 10th highest price on this list. But uncertainty is key to the appeal of every version of the story, as Lewis tells BBC Culture: "Nobody knows if it is a Leonardo, so you too can play the game, you can do your own Da Vinci Code on the Salvator Mundi. Last Supper | History, Technique, Location, & Facts | Britannica And then amid all of this, he buys this one-of-a-kind Leonardo da Vinci manuscript at a Christie's auction for $28 million. Omissions? LONDON A tiny Leonardo da Vinci sketch sold on Thursday at Christie's for 8.9 million with fees, or about $12.2 million, a record price for a Leonardo drawing at auction . Well, as we mentioned, the most expensive painting ever sold at auction was the Salvator Mundi for $450 million. The Met has since returned the coffin to Egypt. Highly esteemed, he was constantly kept busy as a painter and sculptor and as a designer of court festivals. The ensuing war left the clay model a heap of ruins. PETERSON-WITHORN: Thanks for listening to Priceless. So it's difficult to get much better than someone who has actually appraised an item. According to the Christie's auction catalogue for the 1994 sale, the Codex was described as being in good and stable condition. (or simply Leonardo) (Leonardo diser Piero ser da Vinci) (Italian, 1452-1519). In this room, inon the telephone rather, at $28 million. Early Life: Verrocchio's Pupil. When he was about 15, his father, who enjoyed a high reputation in the Florence community, apprenticed him to artist Andrea del Verrocchio. Let us know if you have suggestions to improve this article (requires login). But one tries to lay out in a rational way, why one has a higher value than the other, why one has a lesser market appeal, and then try from that to come up with a single value. CBS CLIP, CONNIE CHUNG: You know, you may be the richest man in America, or at least the second-richest man in America. It next appeared at a Sotheby's in England in 1958 where it sold for 45 - about $125 at the time. Get a Britannica Premium subscription and gain access to exclusive content. So, we reached out to Martin Kemp, who is another da Vinci scholar, and an Oxford University emeritus professor. The Secretes of Salvator Mundi by Leonardo da Vinci Explore the life of Italian painter, architect, engineer, and humanist Leonardo da Vinci. Alison Cole, editor of The Art Newspaper, has written extensively about the painting and saw it at the National Gallery. Its the zenith of my career as an auctioneer. The Virgin and Child with St Anne by Leonardo Da Vinci What was Leonardo da Vincis personality like? The Nahmad family bought Suprematist Composition in 2008 at Sotheby's, New York, for $60,002,500 ($76million in 2021 dollars) from the heirs of Kazimir Malevich. Christies had also found placing the work, despite its celebrity, hard to fathom. TINDERA: That's right. The role of most of these associates is unclear, leading to the question of Leonardos so-called apocryphal works, on which the master collaborated with his assistants. There is so much information in the public sphere that everyone can have the illusion of being an insider. A scene from Saviour for Sale, a second documentary about the Salvator Mundi, by French journalist Antoine Vitkine (Credit: Zadig Productions). PETERSON-WITHORN: And in fact, that fall he had just appeared atop our Forbes 400 ranking of the richest Americans, with an estimated net worth of $9.35 billion. MASSEY: Still with me then at five-million five hundred thousand, five-million eight hundred thousand, five-million eight hundred thousand. If one drawing sold for $12 million, that would mean that he could sell off this whole book clipped to pieces and earn something like $4 billion. And then, how do we rationalize the difference in the kind of object it is? Oprah Winfrey had bought the painting in November 2006 at Christie's for nearly $88 million. The Return to Italy - the Mona Lisa disappeared from the Louvre Museum in 1911. And if you liked this story,sign up for the weekly bbc.com features newsletter, called The Essential List. 1. [4] In constant dollars, the highest price paid before 1987 was by the National Gallery of Art when in February 1967 they acquired Leonardo da Vinci's Ginevra de' Benci for around $5 million ($41million in 2021 dollars) from the Princely Family of Liechtenstein. In the film, the art historian Frank Zllner, who has compiled a catalogue raisonn of Leonardo's paintings, wryly calls the Salvator Mundi "a masterpiece by Dianne Modestini," who made it "more Leonardesque than Leonardo had done." At the time bin Salman was trying to burnish Saudi Arabia's image by loosening a few restrictions. SIMON: It's a truly horrific prospect. And my enjoyment in owning these wonderful works of art. Edvard Munch "The Scream" (1895): $135.2 million 9. In Verrocchios renowned workshop Leonardo received multifaceted training that included painting and sculpture as well as the technical-mechanical arts. Privately resold for ca. The US art critic Jerry Saltz rails in The Lost Leonardo that "it's not even a good painting", much less a great Leonardo, while true believers gush that seeing it in person is a transcendent experience. At $28 million it's away from the room now and on the telephone at $28 million. In November 2017 Saudi crown prince Mohammed bin Salman paid $450 million for a da Vinci painting. There is hardly a person on this planet that doesn't know about this artwork. After his death, Hammer's estate became tied up in a series of new lawsuits that began with the niece of Hammer's late wife suing for a piece of his art collection and other assets. PETERSON-WITHORN: Given Simon's connections to the Salvator Mundi, and his experience running a gallery of Old Masters works, he seemed like an excellent source to speak with for this valuation. The sale places Salvator Mundi as the highest-priced work sold privately or at auction, including Pablo Picassos 1955 Women of Algiers (Version O), sold for $179.4m, and Amedeo Modiglianis 1917-18 Reclining Nude, sold for $170.4m. Months earlier, he had appeared on the cover of Forbes, and he was a member of our very first Forbes 400 ranking. In the days leading up the the sale, Christies produced a video of celebrities viewing the work, among them Leonardo DiCaprio and Patti Smith. And how does that help us come up with a number for today? TINDERA: Simon shared with us his own process for how he estimated the fair market value in the appraisal he put together nearly 30 years ago. Because at the end of the day, it's an entertaining story.". Previewing the lot last month, Christies described the painting of Christ holding a crystal orb in his left hand and raising his right in benediction as the biggest discovery of the 21st century. He also considered a painting done by Renaissance artist Pontormo, which was purchased by the Jay Paul Getty Museum for $35.2 million at Christie's in 1989. Usually estimated at "over 50 M" or "between 50 and 60 million Euros". And my background is as an art historian. When asked whether Salvator Mundis involvement in the Rybolovlev-Bouvier case might overshadow its sale, Christies postwar and contemporary chairman, Loc Gouzer, who secured the work with a $100m guarantee, said: We cannot comment about sellers, but it has every passport, every visa.. It then disappeared again until it was bought at a small U.S. auction house in 2005. The triptych had probably been reassembled by the Italian collector Francesco De Simone Niquesa, but were resold to a person in the US before 2013, This is the small version of the painting; the large version is at the. The current record price is approximately US$450.3 million (which includes commission), paid for Leonardo da Vinci's Salvator Mundi (c.1500). (Maybe so, but in the films and other reproduced images it does have a more cloying look). Top 10 Most Expensive Paintings Ever Sold At Auction This means the Codex is certainly one of the world's most valuable pieces of art. That's why these valuations can be so tricky. Rybolovlev resold Te Fare in February 2017 at Christie's in London for $25 million. To him, it was just his collection of scientific observations and illustrations and writings, mostly focused on the study of water. Any more? DETAILS BELOW Leonardo da Vinci (born April 15, 1452) is famous for being painter. Leonardo da Vinci, (Italian: "Leonardo from Vinci") (born April 15, 1452, Anchiano, near Vinci, Republic of Florence [Italy]died May 2, 1519, Cloux [now Clos-Luc], France), Italian painter, draftsman, sculptor, architect, and engineer whose skill and intelligence, perhaps more than that of any other figure, epitomized the Renaissance humanist
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