Velázquez sold for 3.464.144 euros

Two exceptional portraits from the Spanish school at auction in the same week and only one hammer price for the lot: Portrait of an unknown Gentleman

London, 12/07/11

After the shock yesterday surrounding the unsold portrait by Goya of the King's embroiderer in Christie's sale , where Pieter Brueghel the younger achieved a new record high for his work Battle of Canival against Lent, sold for more than 8 million euros. The fear that the work attribbuted to Velázquez would follow the same fate was understandable. 

In London at around four o'clock, lot 63 from the Old Master paintings sale was sold over the telephone, after an intense and heated rise of bids, for 3.464.144 euros. For 10 minutes the pale and lively countenance of an unknown gentleman presided over the London bidding room, while telephones rang and staff hurried to register the last bids. The last work by Velázquez at auction goes on to occupy a privilieged place, among those pieces handled for more than six figure sums. Even so, it was a far cry from the artist's record at auction set in 8 million dollars by Velazquez's portrait of Juan Pareja sold by Sotheby's in 1975 to the Metropolitan museum of art.

Since the controversial Saint Rufine was auctioned off, first at Christie's in 1999 and eight years later at Sotheby's, no lot had caused such comotion. Velazquez's portrait possesed three insuperable qualities. First: it was an uncataloged work and therefor unknown. Second: It had receivided the blessings of critics and specialists. Third: the auction organizers did not anticipate nor over-estimate the interest of a work by one of Art History's greatest icons. 

The new owner is phillantroper, collector, Alfred Bader, a retired Canadian chemist. Alfonso carbajo Agrasar  

 

Diego Rodríguez de Silva y VelázquezPortrait of a gentleman. Oil on canvas. Hammer Price: 2,953,250 British Pounds.