Princess Diana's Rubens and $45m Turner lead Master Paintings Week
Sotheby's and Christie's are stoking the art markets, with a World Record price for a Turner
As we previously reported earlier this week, Old Masters and other centuries-old works are ruling the art markets throughout this week.
Last night, Sotheby's achieved a World Record price for Joseph William Turner's masterpiece, Modern Rome. The work brought $45,029,900 - a new auction record for a Turner.
According to reports, the work was consigned by a descendant of the 5th Earl of Rosebery. Rosebery bought the painting back in 1878 while on honeymoon with his wife Hannah Rothschild.
And the Turner sale wasn't the only major sale this week. At Christie's, Rubens' powerful A Commander Being Armed for Battle, dated to circa 1613-1614, brought an incredible final price of $13,663,898.
Depicting an anonymous commander being dressed in his armour, the painting's provenance is as impressive as the powerful and psychologically-complex image itself.
Originally auctioned with a lower estimate of $12,136,000, the painting was hung in Althorp, the ancestral home of the prominent aristocratic Spencer family of which Princess Diana was a member.
More Spencer artefacts are going under the hammer at Christie's today, including the family's antique furniture, porcelain and art objects. Watch this space for more news on the sale.
Elsewhere in the markets, old master paintings aren't the only pieces doing well at auction - both Christie's and Sotheby's have reported booms of 139% and 60% in their sales of contemporary art (you can see our special report, here).
Meanwhile, for collectors interested in Princess Diana, there are a number of rare and very valuable signed photographs featuring Diana, Prince Charles and Princes William and Harry on which more information can be found here.
- Learn how you can get pleasure and profit from art by the Old Masters
- Click here for all the latest Art news
Join our readers in 182 countries around the world - sign up for your free weekly Collectibles Newsletter today
Recent and related articles...
· Old Masters rule over London's art markets, all this week | 5 July 2010
Over the next five days, Sotheby's and Christie's are holding sales for Master Paintings Week
Sotheby's says the future is bright for the art markets, as it prepares tomorrow's £148m auction
· Inside the Impressionist art collections of Henri Canonne | 17 June 2010
The inventor of the throat sweet is also remembered for his gathering of works by Monet, and other masters
· William Bouguereau stars in Christie's $11.7m art auction | 11 June 2010
The French artist achieved his 2nd-ever highest price at auction - Pietà, 1876, sold for over $2.7m
Images: Christie's and Sotheby's