Two paintings from the collection of the U.K.’s aristocratic Spencer family raised 14.2 million pounds ($21.5 million) at an Old Master auction last night as highly valued artworks attracted selective bidding.
Peter Paul Rubens’s1612-1614 panel painting “A Commander Being Armed for a Battle” sold at Christie’s International for 9 million pounds with fees, while Guercino’s 1651 canvas “King David” fetched 5.2 million pounds, a record for the artist.
Both works from the Princess of Wales’s family sold near their lower estimates. Last month, high-value Impressionist and contemporary works often struggled to attract bidding as buyers, mindful of wider economic concerns, balked at rising estimates.
(Scott Reyburn writes about the art market for Muse, the arts and culture section of Bloomberg News. Opinions expressed are his own.)
To contact the writer on the story: Scott Reyburn in London at firstname.lastname@example.org.