What's Happening?
Christie's is set to host its largest Americana Week ever, featuring a nine-sale, 700-lot event that includes a George Washington portrait by Gilbert Stuart, which inspired the dollar bill. This particular
painting, commissioned by James Madison, is expected to fetch between $500,000 and $1 million at auction on January 23. Stuart, known for his prolific portraits of Washington, painted the first president in several poses, with the Athaeneum type becoming the most famous. The painting's provenance was confirmed through historical documents, including a catalog from the 1850s and a note from Madison's secretary. The portrait has passed through several notable owners, including industrialists and art collectors, and was once involved in a college prank.
Why It's Important?
The auction of this George Washington portrait is significant as it highlights the enduring cultural and historical value of American art. The painting not only represents a key piece of American history but also reflects the market's interest in historical artifacts. The expected high auction price underscores the demand for iconic American art, which can influence the art market by increasing the visibility and value of similar works. Additionally, the auction coincides with America's 250th birthday celebrations, adding a layer of national pride and historical reflection to the event.
