Old Masters artworks achieve record-breaking prices

  • The Adoration of the Kings by Rembrandt sold for nearly £11 million ($14 million)
  • Pair of Canaletto paintings sold for £9.7 million ($12.2 million)
  • Rembrandt painting previously sold for €860,000 ($927,000) now recognized as a work by Rembrandt
  • Canaletto paintings previously unknown to scholars and not seen publicly since 1777
  • Christie’s realized a total of £34.1 million in three Old Masters evening sales
  • Highest December total for Old Masters category at Christie’s since 2019
  • Collection of graphic prints by Rembrandt sold for nearly £8 million
  • Francesco Renaldi’s Portrait of a Mughal lady sold for £825,500, surpassing high estimate
  • Sotheby’s Old Masters sales this month totaled $38.8 million

Artworks by Old Masters achieved record-breaking prices at major auctions in London this week. The Adoration of the Kings by Rembrandt sold for nearly £11 million ($14 million), while a pair of Canaletto paintings sold for £9.7 million ($12.2 million). The Rembrandt painting, previously sold for €860,000 ($927,000), was rediscovered to be a work by Rembrandt himself. The Canaletto paintings, previously unknown to scholars and not seen publicly since 1777, were described as exceptional views of Venice. Christie’s realized a total of £34.1 million in three Old Masters evening sales, with the highest December total for the category since 2019. Sotheby’s Old Masters sales this month totaled $38.8 million, with a record-breaking price achieved for Francesco Renaldi’s Portrait of a Mughal lady.

Public Companies: Christie’s (null), Sotheby’s (null)
Private Companies:
Key People: Rembrandt Harmensz. van Rijn (Artist), Giovanni Antonio Canal (Artist), Maja Markovic (Head of Christie’s Old Masters Part I sale in London), Sam Josefowitz (Late Entrepreneur), Michael Sweerts (Artist), Francesco Renaldi (Artist)

Factuality Level: 7
Justification: The article provides information about recent art auctions in London, including the sale of artworks by Old Masters. It mentions specific paintings and their sale prices, as well as details about their historical significance and condition. The information seems to be based on statements from auction houses like Christie’s and Sotheby’s. However, without further verification, it is difficult to determine the accuracy of the information provided.

Noise Level: 7
Justification: The article provides information about recent art auctions in London, specifically focusing on the sale of artworks by Old Masters. It mentions the sale of a Rembrandt painting that had previously been undervalued, as well as the sale of Venetian vedute paintings by Canaletto. The article also includes information about the sales figures and highlights from the auctions. However, it lacks in-depth analysis or insights into the art market or the significance of these sales. It primarily focuses on reporting the sales results without providing much context or critical analysis.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information about the sales of Old Masters artworks at major auctions in London. While it does not directly impact financial markets or companies, it highlights the strength of the art market and the prices achieved for these artworks.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article focuses on the sales of Old Masters artworks at major auctions in London, which is not directly related to extreme events or financial market impacts. The information provided highlights the strength of the art market and the prices achieved for these artworks.

Reported publicly: www.marketwatch.com