Old Master Paintings Post Sale Release_merged

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    For Immediate ReleasePress Release London

    London | +44 (0)20 7293 6000 | Mitzi Mina | [email protected] |Leyla Daybelge | [email protected] Matthew Weigman | [email protected]

    MASTERPIECE BY RAPHAEL ACHIEVES RECORD PRICEFOR THE ARTIST AT AUCTION

    One of the Greatest Drawings by Raphael To Come To AuctionFetches 29.7 Million / $47.8 Million / 36.6 Million

    Raphaels Head of a Young Apostle Achieves Second-Highest Pricefor Any Old Master Work of Art

    LONDON, Wednesday 5 th December, 2012 In a crowded saleroom at Sothebys London, the art world

    witnessed an historic moment tonight when Raphaels Head of a Young Apostle(c. 1519-20) dramatically set a newrecord at auction for the artist, when it achieved 29.7 million / $47.8 million / 36.6 million 1. Following anintense 17 minute battle between four bidders - both in the auction room and on the phones the hammer camedown on the winning bid which was cast on the telephone. The room erupted in a round of applause as thedrawing - which came to sale from one of the greatest Old Master Drawings collections in the world, theDevonshire Collection at Chatsworth - achieved a price almost three times that of its pre-sale low estimate of10-15 million.

    Gregory Rubinstein, Worldwide Head o f Old Master Drawings at Sothebys, said If you are lucky, at some point in your career a work like this comes along. A number of the worlds greatest collectors stepped up tonight inrecognition of the genius of Raphael and the extraordinary beauty of this drawing with its exceptional provenance.

    1 A record price in GBP. The previous record price of 29.2 million was established for Raphaels Head of a Muse inLondon in December 2009. Please note this converted to $47,941,095 at that time).

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    Head of a Young Apostle was the headline work at tonights Evening Sale of Old Master & British PaintingsIncluding Three Renaissance Masterworks from Chatsworth , which achieved 58,061,500 / $93,513,852 / 71 ,514,547 (est. 35.6-52.9 million). In addition to the record achieved for Raphaels drawing, seven furtherrecords were achieved in tonights sale, including Jan Havicksz. Steen (full list below). The sale was 74.5% sold by lot and 86.8% by value, with nine works selling for more than 1 million and 11 works selling for over $1million. Of the lots sold, half achieved prices over their pre-sale high estimate.

    Alex Bell, Sothebys Co -Chairman, Old Master Paintings, Worldwide, said : Tonights sale was a gr eat way toend what has been a fantastic year for Sothebys- from the record-breaking sale of The Scream, to tonights landmark sale of the exceptional Raphael drawing from the Devonshire Collection. While that of course was the undoubted highlight of theevening, the rest of the sale also demonstrated depth and strength in this market which has benefitted in recent years froman influx of buyers from new geographic areas, and collectors who have previously been active in other fields.

    Raphaels Head of a Young ApostleExecuted in black chalk, the highly important drawing from the Devonshire Collection at Chatsworth depictsone of the key figures in Raphaels Transfiguration one of the greatest of all Renaissance paintings, which nowhangs in the Vatican Museum, Rome. When Raphael died, his body was laid out in state in his studio with theTransfiguration hanging at his head. Head of a Young Apostle , is one of only three Raphael drawings of this calibrehave appeared at auction in the last 50 years each of which set an all-time record for an Old Master Drawingwhen they were sold.*

    Cristiana Romalli, Senior Director in the Department of Old Master Drawings at Sothebys, commented :This very moving study is a paramount example of Raphaels draughtsman ship - and shows exactly why he is revered asvery possibly the greatest master of drawing who has ever lived. The sheer beauty of this work is utterly breath-taking - andthe way in which it allows us to join Raphael as he created his last great masterpiece is hugely exciting.

    Also from The Devonshire Collection at Chatsworth, a flawlessly preserved 15 th-century illuminated manuscript,The Deeds of Sir Gillion de Trazegnies in the Middle East , was bought by the J. Paul Getty Museum for 3,849,250(est. 3-5 million). Produced in Flanders for one of the greatest libraries of the 15th century and distinguished bya dazzling royal and ducal provenance, the manuscript was once among the most treasured works in the libraryof great Renaissance patron of the arts Franois I, king of France, 1515-47.

    Other Notable Prices Achieved:Jan Havicksz. Steens The Prayer Before the Meal, from the collection at Sudeley Castle (est. 5-7 million),achieved 5,641,250 .

    Four extremely rare 14th-century paintings by the Florentine artist Niccol di Pietro Gerini , depicting Scenesfrom the Passion of Christ estimated at 800,000-1 million achieved 1,105,250. Datable to circa 1390, they are theonly known surviving examples of an Italian 14th century narrative cycle on linen.

    Painted by Bernardo Bellotto at the age of just 17 or 18, Venice, The Grand Canal, Looking South-West, From theRialto Bridge to the Palazzo Foscari (1,200,000-1,800,000) sold for 3,289,250 The painting has been hung,consecutively, in two of the finest, and largest, nineteenth-century neo-Gothic castles in Great Britain:Saltmarshe Castle and Penrhyn Castle.

    Portrait of Giovanni Gaddi (1493-1542), Head and Shoulders, Wearing a Black Cap (est. 600,000-800,000) was mostlikely painted in Florence in the first years of the 16th century. Formerly attributed to Ridolfo Ghirlandaio, thisexceptional portrait by a singular hand is remarkably and tantalisingly - yet to find an entirely convincingattribution. This evening it sold to an online bidder for 1,273,250.

    Further Records For Artists At Auction Achieved This Evening:

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    Lot 3 Jan MassysAn allegory of CharitySold for 445,250Pre-sale est. 180,000-220,000

    Lot 9 Jan Havicksz. SteenThe Prayer before the mealSold for 5,641,250Pre-sale est. 5-7 million

    Lot 13 Jan van der StraetCaccia allelefante Sold for 241,250Pre-sale est. 200,000-300,000

    Lot 16Niccolo di Pietro GeriniScenes from the Passion of ChristSold for 1,105,250Pre-sale est. 800,000-1.2 million

    Lot 19Giovanni BaglioneSaint John the BaptistSold for 313,250Pre-sale est. 60,000-80,000

    Lot 22Andrea VaccaroLot and his DaughtersSold for 289,250Pre-sale est. 120,000-180,000

    Lot 45Giuseppe BaldrighiPortrait of Antonio Ghedini and his familySold for 205,250Pre-sale est. 200,000-300,000

    Sale Statistics:

    Sold by lot: 74.5% Sold by value: 86.8% Of the 51 lots offered, 38 sold Average lot value: 1,138,460

    Notes to Editors

    Drawings by Raphael previously offered at auction

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    Raphael, Head of a MuseChristies L ondon, 8 th December 200926m hammer / 29.2m ($48m) aggregateUNTIL SOTHEBYS SALE THIS EVENING, PREVIOUSLY THE RECORD PRICE FOR A RAPHAELDRAWING AT AUCTION

    Raphael, Head of an Apostle Christies London, 13 th December 19964.8m hammer / 5.3 m ($8.7m) aggregate

    Sothebys sales of Old Masters continue in New York in January with the sale of property from the estate of GiancarloBaroni on 29 & 30 January 2013 and the sale of Important Old Master Paintings and Sculpture on 31 January 2013. Thislatter auction will be led by Francisco Jos de Goya yLucientess Portrait of Mariano Goya (est. $6/8 million) from theestate of Greek shipping magnate George Embiricos, andSusanna and the Elders (est. $6/9 million), a major work byPompeo Girolamo Batoni from 1751.

    IMAGES AVAILABLE VIA EMAIL

    Estimates do not include buyers premium

    # # #

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    +44 (0)20 7293 5000 F +44 (0)20 7293 5989 WWW.SOTHEBYS.COM

    Sale Results London, Bond St

    Sale L12036 Old Master & British Paintings Evening SaleSale L12036 Old Master & British Paintings Evening SaleSale L12036 Old Master & British Paintings Evening SaleSale L12036 Old Master & British Paintings Evening SaleIncluding Three Renaissance Masterworks from ChatsworthIncluding Three Renaissance Masterworks from ChatsworthIncluding Three Renaissance Masterworks from ChatsworthIncluding Three Renaissance Masterworks from Chatsworth

    05 DEC 1205 DEC 1205 DEC 1205 DEC 12

    Grand TotalGrand TotalGrand TotalGrand Total 58,061,500 GBP (93,513,852 USD) (71,514,547 EUR) Exch Rate:Exch Rate:Exch Rate:Exch Rate: 1.61 Sold by Lot:Sold by Lot:Sold by Lot:Sold by Lot: 74.5% Lots Offered:Lots Offered:Lots Offered:Lots Offered: 51 Sold by Value:Sold by Value:Sold by Value:Sold by Value: 86.8% Lots Sold/Unsold:Lots Sold/Unsold:Lots Sold/Unsold:Lots Sold/Unsold: 38 / 13

    LotLotLotLot Price (GBP)Price (GBP)Price (GBP)Price (GBP) Estimate (GBP)Estimate (GBP)Estimate (GBP)Estimate (GBP) BuyerBuyerBuyerBuyer

    52 29,721,250 ($47,869,045) (36,607,765) 10,000,000 - 15,000,000 AnonymousRaffaello Sanzio, called Raphael,Head of a Young Apostle, black chalk drawing***RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION***

    9 5,641,250 ($9,085,797) (6,948,347) 5,000,000 - 7,000,000 Jan Steen, The prayer before the meal , oil on oak panel

    ***RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION***51 3,849,250 ($6,199,602) (4,741,134) 3,000,000 - 5,000,000 The J. Paul Getty Museum Louis de Gruuthuse's copy of The Deeds of Sir Gillion de Trazegnies in the Middle East, in French, Illuminated Manuscript on vellum[Southern Netherlands (Antwerp or perhaps Bruges), dated 1464]47 3,289,250 ($5,297,666) (4,051,380) 1,200,000 - 1,800,000 Bernardo Bellotto,Venice, the Grand Canal: looking south-west, from the Rialto Bridge to the Palazzo Foscari , oil on canvas

    38 1,945,250 ($3,133,020) (2,395,971) 600,000 - 800,000 Willem van de Velde the Younger,Shipping in a calm offshore with figures on the shore by a rowing boat, a Man-of-War lying off , oil on oakpanel7 1,497,250 ($2,411,471) (1,844,168) 300,000 - 400,000 Balthasar van der Ast, A still life of fruit and shells with a rose and various insects upon a stone ledge, oil on oak panel

    18 1,273,250 ($2,050,696) (1,568,266) 600,000 - 800,000 Florentine School, 16th century,Portrait of Giovanni Gaddi (1493-1542), head and shoulders, wearing a black cap, oil on poplar panel

    36 1,273,250 ($2,050,696) (1,568,266) 400,000 - 600,000 Pieter Brueghel the Younger,The village lawyers office, oil on oak panel

    16 1,105,250 ($1,780,116) (1,361,340) 800,000 - 1,200,000

    Niccol di Pietro Gerini,Scenes from the Passion of Christ , a set of four, all tempera with gold and (degraded) silver leaf on canvas***RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION******RECORD FOR THE ARTIST AT AUCTION***10 847,650 ($1,365,225) (1,044,053) 500,000 - 700,000 Jacob van Hulsdonck, A Still Life, oil on oak panel

    ------------PLEASE SEE SEPARATE POSTPLEASE SEE SEPARATE POSTPLEASE SEE SEPARATE POSTPLEASE SEE SEPARATE POST----SALE PRESS RELEASESALE PRESS RELEASESALE PRESS RELEASESALE PRESS RELEASE------------

    Specialists in Charge: Alex Bell, Gregory Rubinstein,Tim Bolton

    Press Office Contact: Mitzi Mina, Leyla Daybelge

    Please note all prices include buyer's premium. Sale session totals are net aggregate figures plus premiums. Sotheby's buyer's premium is 25% of the hammer price on the first 25,000,

    20% of the hammer price up to and including 500,000, and 12% thereafter on each lot. **Estimates do not include buyer's premium** SOTHEBY'S: REGISTERED AT THE ABOVE ADDRESS NO. 874867

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