"Salvador Mundi," the last painting by Italian master Leonardo da Vinci still in the possession of a private collector, was auctioned on November 15. The sale took place at Christie's in New York and the painting fetched no less than $450,3 million, or €381 million, a sum that shattered Pablo Picasso's record and earned it the title of the most expensive painting in the world.
A new world record
It was at the end of a frantic 19-minute sequence that the painting "savior of the world" or "Salvator Mundi" was sold for a whopping $450,3 million. A new world record that far surpassed Pablo Picasso's famous painting "Women of Algiers" (version 0), which sold for $179,4 million in 2015 alone.
A big surprise even for the iconic auction house Christie's, which estimated the value of this painting at $100 million. Guillaume Cerutti, CEO of Christie's auction house, even declared that: "It was a great moment for Christie's and, I believe, a great moment for the art market." It should be remembered that this 65 cm x 45 cm painting was sold for only 45 pounds in 1958, well before it was recognized as an authentic piece in 2005. Before being sold at auction, this "Salvator Mundi" painting was in the possession of a Russian billionaire, Dmitri Rybolovlev, president of the AS Monaco club. The latter reportedly acquired it for $127,5 million from the Swiss art dealer Yves Bouvier, who had bought it for $80 million shortly before selling it to the billionaire.
The course of the auction
"Salvator Mundi" is therefore considered the most expensive painting in history, all sales combined, even outside of auctions. According to several American media outlets, two of the world's most expensive paintings, including one by de Kooning and another by Gauguin, were sold for $300 million during private sales in 2015, less than $150 million than Leonardo da Vinci's canvas.
It was in a dynamic and lively atmosphere that the bidding for the legendary painting began at 70 million dollars, climbing no less than 53 levels before reaching 400, finally being sold for 450,3 million dollars including commissions, fees and taxes.
Halfway through the auction, the matter came down to a duel between two anonymous buyers who communicated their orders to the Christie's sellers via telephone.
At 200 million, the audience, made up of several visitors unaccustomed to the hushed atmosphere of sales, was making a lot of noise and the final hammer blow triggered thunderous applause and exclamations.
François de Poortere, head of Christie's Old Masters department, told AFP: "I never imagined we would have the Holy Grail of all artists, a painting by this artist." "It's an extraordinary moment for old masters, for the market." "It's very difficult to describe what really happened," he continued. "It's an extraordinary price for an extraordinary painting. Leonardo inspired generations and continues to inspire today."
Earlier art is making a strong comeback at auction, with the market returning to its peak. Since the start of the fall auctions, several sales have already been concluded.
Quentin
