John Constable's Hampstead view achieves $1.3m at Sotheby's

John Constable's view of London from Hampstead proved the headline lot of Sotheby's sale of Old Master & British Drawings in London earlier today.

The painting achieved £794,500 ($1.3m) - an increase of 164.8% on a high estimate of £300,000 ($506,340).

Dating to between 1827 and 1832, the work was created as a study for two larger versions.

Constable Hampstead
Constable's view of London from Hampstead dates to between 1827 and 1832

One is now housed in the permanent collection of the Paul Mellon Centre for British Art, while the other sold at Christie's London for £565,250 ($961,490) in 2005 - a figure that indicates a rise in Constable's market value.

This is backed up by the recent sale of a set of Constable drawings that achieved growth of 10.0% pa over a period of more than 60 years.

The recent sales may have been boosted by the Constable record set by The Lock in 2012, which achieved £22.4m ($35.2m) - making it one of the most valuable British paintings ever sold.

JMW Turner's Palace of la Belle Gabrielle made £266,500 ($449,799).

The watercolour depicts a view of the river Seine on the outskirts of Paris and displays the artist's technical ability.

In 2010, Turner's Modern Rome - Campo Vaccino sold for an artist's record £29.7m ($50.8m).

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