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A Leonardo da Vinci the size of a Post-it sells for $12.2 million

Written by Scott Reyburn

A tiny Leonardo da Vinci sketch bought Thursday at Christie’s for 8.9 million kilos with charges, or about $12.2 million, a report value for a Leonardo drawing at public sale.

Leonardo’s delicate silverpoint research “Head of a Bear,” measuring just below Three inches by Three inches, and thought so far from the early 1480s, was included in Christie’s summer season “Distinctive Sale” of high-value historic artistic endeavors assembled from a variety of accumulating classes.

Estimated to promote for Eight million kilos to 12 million kilos, or $11 million to $16.5 million, the drawing was purchased by a single bid from an as-yet-unidentified purchaser within the public sale room. There was no competitors from any phone or web bidders. The ultimate value of $12.2 million was marginally higher than the $11.5 million given in 2001 for Leonardo’s barely bigger silverpoint research “Horse and rider,” the earlier public sale excessive for a drawing by the artist.

“These costs are absurd,” mentioned Jean-Luc Baroni, a seller in museum-quality outdated grasp drawings, primarily based in London and Paris. Baroni mentioned that if he had been requested to cost the work, he would have valued it at about $2 million. “You’re shopping for a reputation. It’s nothing to do with the love of drawings.”

“OK, it’s a Leonardo. Nevertheless it’s so tiny,” he mentioned. “It’s a postage stamp.”

The drawing may need been small — it’s in regards to the dimension of an ordinary sq. Submit-it word — however the sale Thursday was seen by many specialists as probably the final alternative to purchase an unique Leonardo drawing from a personal assortment.

Costs for just about any work related to this most well-known of Italian Renaissance artists have soared because the astounding $450.Three million given in 2017 for the “Salvator Mundi.” In June, Christie’s bought a 17th-century copy of the “Mona Lisa” for two.9 million euros, or about $3.four million. On Thursday, simply hours earlier than Christie’s sale of the drawing, Sotheby’s bought what could be a 20th-century copy of the “Mona Lisa” for 378,000 kilos at a day public sale of outdated masters. It had been estimated at 8,000-12,000 kilos.

“Leonardo is the magic identify,” mentioned Anthony Crichton-Stuart, director of the London dealership Agnews, who had been following Sotheby’s day sale.

Leonardo was recognized to create “composite” animals in his artwork by combining parts from completely different species. Students have related the drawing of a bear that bought Thursday with the famously animated head of an ermine in Leonardo’s celebrated “Portrait of Cecilia Gallerani,” courting from about 1490, within the Nationwide Museum in Krakow, Poland.

“It was a really stunning, very poetic drawing,” mentioned Stephen Ongpin, a specialist seller in outdated grasp drawings, primarily based in London. “What I preferred was the tenderness of the depiction. It’s not like a scientific drawing. Nevertheless it was small.” Ongpin mentioned that he thought Christie’s valuation had been “right,” provided that the estimate mirrored a report value for a Leonardo drawing set 20 years in the past.

Ongpin and different sellers recognized Christie’s nameless vendor as American billionaire Thomas S. Kaplan, greatest recognized for his touring assortment of work by Rembrandt. Kaplan acquired the drawing from London seller Johnny van Haeften in 2008, as indicated in Christie’s cataloging. Kaplan declined to substantiate that his was the “household belief” making the sale.

Ongpin mentioned that Christie’s had been on the lookout for the “Salvator Mundi impact” by providing the drawing in its night “Distinctive Sale,” which appeals to rich collectors of trophy objects, somewhat than at a specialist outdated masters public sale.

“There are one or two personal collectors and one or two museums who may have purchased a drawing like this,” Ongpin mentioned. “However Christie’s have been additionally on the lookout for a purchaser who doesn’t accumulate drawings and could be entranced by the identify.”

The sale raised questions on the way forward for one other drawing by the Renaissance grasp, that one owned by a retired physician in France.

The previous physician, an octogenarian recognized in authorized paperwork merely as Jean B., is hoping so as to add the work to the small record of Leonardo drawings from personal collections supplied on the open market.

Again in 2016, Paris auctioneers Tajan recognized a double-sided pen-and-ink drawing that the physician owned as a significant Leonardo discovery. Broadly accepted as a Leonardo by specialist students, the 7 1/2-by-5-inch sheet, displaying the martyrdom of St. Sebastian on one facet and scientific sketches on the opposite, was declared a “nationwide treasure” by the French state, which was permitted to supply to purchase it at a good market value throughout a 30-month interval throughout which its export was banned.

However the sensational “Salvator Mundi” sale in 2017 made the proprietor of the drawing revise his expectations, based on Rodica Seward, proprietor of Tajan.

Seward mentioned that the proprietor determined to cancel the public sale deliberate for June 2019, at which Tajan hoped to attain a value of no less than 30 million euros, or about $34 million, for the double-sided drawing. That July, the French state supplied to purchase the sheet for 10 million euros, or about $11.Eight million, simply earlier than the certificates refusing its export was set to run out. The supply was rejected, and the export ban stays in place after having been renewed.

The drawing has now change into the topic of a protracted authorized dispute, by which the proprietor and his household are looking for to carry the export restriction, which might enable them to promote the Leonardo on the worldwide market. On Wednesday, a Paris courtroom adjourned the case till Oct. 27.

“If that little Christie’s drawing is value $12.2 million, what’s the ‘St. Sebastian’ value?” Seward mentioned in an interview. “Who should purchase it in France when you can’t export it? Who is aware of?” she added. “The drawing is in limbo, and is in our protected.”

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