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Italy Cuts Price for 16th Century €471 Million Roman Villa After Auction Fails

  • Base price set for EU377 million for new auction on April 7
  • Villa features Caravaggio’s only known ceiling mural
A fresco by Guercino inside The Casino dell’Aurora.
A fresco by Guercino inside The Casino dell’Aurora.Photographer: Gregorio Borgia/AP Photo

An Italian tribunal lowered the minimum price for a 16th century Roman villa that boasts Caravaggio’s only fresco after the first auction failed to attract any bids on Tuesday.

The base price for the Casino dell’Aurora will be 376.8 million euros ($427 million), a court official told Bloomberg, when the prized villa comes under the hammer again on April 7. This implies a minimum bid of 282 million euros.