What's Happening?
A 16th-century portrait, identified as 'French or Flemish School,' sold for $2.3 million at Sotheby's New York, significantly surpassing its estimated value. The painting, from the collection of Dutch electronics magnate Anton Philips, attracted four determined bidders in a 10-minute contest. The work was previously attributed to Corneille de Lyon, a Dutch painter active in France, and later to Lucas de Heere, a Flemish artist. Despite the uncertain attribution, the painting's handling suggests a broader Franco-Flemish influence. Experts are puzzled by the high price, noting that even a confirmed Corneille de Lyon in excellent condition would not typically command such a sum.
Why It's Important?
The sale highlights the complexities and unpredictability of the art
market, where provenance and attribution can significantly influence a work's value. This event underscores the ongoing interest and investment in Old Master paintings, despite uncertainties in authorship. The high price achieved may encourage further scrutiny and interest in similar works, potentially affecting market dynamics for art from this period. Collectors and investors might see this as a signal of the enduring appeal and potential financial rewards of investing in historical art, even when attribution is not definitive.
