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News Desk
George Stubbs masterpiece sells for £22.4 million the 3rd highest price for an Old Master painting sold at auction
Christies the auction house has set new records with sales of the "Old Master & British Paintings" realising £49,766,050. The evening’s top price was paid for Gimcrack on Newmarket Heath, with a Trainer, a Stable-Lad, and a Jockey by George Stubbs (1724-1806) which sold for £22,441,250 becoming the 3rd most valuable Old Master painting ever sold at auction. A masterpiece of both British art and sporting painting, it portrays Gimcrack, one of the most popular and admired of all 18th century racehorses. It was last sold at auction in 1951 when it realized £12,600.
Richard Knight, International co-Head, and Paul Raison, Head of Old Masters and 19th Century Art at Christie’s London stated: “A noticeable demand from private clients led to solid results and the 3rd highest total for an auction in this category at Christie’s in London. We saw a particularly high level of interest and bidding from new clients, including a significant number from Asia. A noticeable change in the market for Old Masters is that we are welcoming collectors who buy across a range of categories, driven by quality, and these collectors are adding a new energy to certain sectors of this field. We are pleased that Stubbs’ masterpiece has become the most valuable Old Master painting sold at Christie’s. Stubbs now joins Rubens, Rembrandt, Turner and Pontormo as the only Old Master artists whose paintings have sold for more than £20 million at auction.”
In total, 6 works of art sold for £1 million (12 over $1 million). Buyers (by lot / by origin) were 33% UK, 36% rest of Europe, 24% Americas and 7% Asia and Middle East.
Other notable results:
Portrait of Miss Read, later Mrs William Villebois sold for £6,537,250 / $10,459,600 / €7,223,661 by Thomas Gainsborough (1727-1788) sold for £6,537,250 / $10,459,600 / €7,223,661 – a world record price for the artist at auction. This painting led a group of 3 British portraits offered from Cowdray Park which realized a combined total of £8,739,750 / $13,983,600 / €9,657,423. Christie’s will offer further works of art from Cowdray Park, West Sussex, at a 3 day on-site auction from 13 to 15 September 2011.
A male nude, seen from behind (recto); Studies of male nudes (verso) by Michelangelo Buonarroti (1475-1564) sold for £3,177,250 / $5,083,600 / €3,510,861. Drawn at a pivotal point of the artist’s career, this preparatory study is one of only 24 sheets related to his seminal, prestigious and lost commission of The Battle of Cascina.
Also offered from Cowdray Park, Portrait of Frances Howard, Countess of Hertford, later Duchess of Lennox and Richmond by Marcus Gheeraerts II (1561/2-1636) sold for £1,721,250 / $2,754,000 / €1,901,981 – a world record price for the artist at auction.
Dutch frigates exchanging salutes in a calm, with yachts, a rowing boat, a sloop carrying personnel, and fishermen on the shore by Simon Jacobsz. de Vlieger (1600/1-1653) sold for £1,553,250 / $2,485,200/ €1,716,341 – a world record price for the artist at auction.
photo credit: Christies auction
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