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And then amid. The saleroom erupted in cheers and applause. So Gates buying Leonardo da Vinci's notebook is the equivalent of a typical 66-year-old splurging ona new iPad. The auction house would not reveal the identity of the buyer or even the region from which they came. MASSEY: Still with me then at five-million five hundred thousand, five-million eight hundred thousand, five-million eight hundred thousand. "I'm absolutely sure that six months down the road or a year, there's going to be some kind of new information, whether true or not, that's going to blow up everywhere in the news media," Dalsgaard says. Some of the most eye-opening commentary in both films isn't even about art. Hence, every phenomenon perceived became an object of knowledge, and saper vedere (knowing how to see) became the great theme of his studies. During this period Leonardo worked on a grandiose sculptural project that seems to have been the real reason he was invited to Milan: a monumental equestrian statue in bronze to be erected in honour of Francesco Sforza, the founder of the Sforza dynasty. When he was about 15, his father, who enjoyed a high reputation in the Florence community, apprenticed him to artist Andrea del Verrocchio. Omissions? Twenty-eight million. After the sale, Pylkknen said the sale had been his ultimate privilege. The world's most expensive painting to sell at auction is Leonardo da Vinci's Salvator Mundi, which sold for $450.3 million on November 15, 2017 at Christie's.Shattering previous records and exceeding auction expectations, the sale underscored market demand for the artist's rare auction appearances, and the competition among collectors to own a work of such caliber and distinction. So, they decided to hold an auction through Christie's, and it took place in London in December 1980. TINDERA: I'm Michela Tindera, and this is Priceless. But many experts on camera and elsewhere in the press think he leapt to an early conclusion. So, I think we could legitimately set the floor at that price. So of course, da Vinci never called it the Codex Leicester or the Codex Hammer. But there would, there are people in the world that would probably do that. PETERSON-WITHORN: After the auction, he told the press, I'm very happy with the price. We reported that same year that Gates envied his friend Warren Buffett, because he had more time to spend reading than Gates did. 9. Leonardo never married, but he had many close relationships with other artists and intellectuals as well as with his assistants. For her part, Modestini has documented her work and the scientific studies of the painting, and published them online. Nineteen million on the telephone. To him, it was just his collection of scientific observations and illustrations and writings, mostly focused on the study of water. The writings in his notebooks suggest that he may have been a vegetarian, and there is also some speculation that he may have been gay. Amid all of that the Codex went back to Christie's in 1994, where it was once again expected to bring $10 million. (Maybe so, but in the films and other reproduced images it does have a more cloying look). This possibly-Leonardo treasure's route to fame began when it surfaced at an obscure New Orleans auction house in 2005 and was bought by two New York dealers for a measly $1,175. The role of most of these associates is unclear, leading to the question of Leonardos so-called apocryphal works, on which the master collaborated with his assistants. One of two pastel versions; another two painted versions (and lithography) exist, all created by Munch. PETERSON-WITHORN: In the end, we decided to take the average of all the recommendations we got from our expert sources. They write new content and verify and edit content received from contributors. And so I think it's, you know, not so much, Let's look at it and see what would happen if we took scissors to it and divided it up. But just to say, Here we have something of such significance, partly because it has survived 500 years without, you know, being destroyed.. Leonardo did not seriously study Latin, the key language of traditional learning, until much later, when he acquired a working knowledge of it on his own. Somewhere in Saudi Arabia, hidden away by order of Crown Prince Mohammad bin Salman, is the world's most expensive painting, Leonardo da Vinci's Salvator Mundi. Billionaires just live in a different world. But we need a lot more information than that before we make our estimate. As a master artist, Leonardo maintained an extensive workshop in Milan, employing apprentices and students. On permanent display at the Louvre in Paris, the Mona Lisa was assessed at US$100 million on 14 December 1962. WINSTON: So once we've deduced that it's a first edition because it meets all of this criteria. I'm going to show it all over the world.. But as it turned out, he also had his own personal connection to the Codex. "When we chose the title," Andreas Dalsgaard, a producer and a writer of The Lost Leonardo, tells BBC Culture, "the inspiration was partly that the painting is lost right now and the truth is lost, but it was also inspired by movies like the Indiana Jones movies that are full of treasures and treasure hunts.". It suffers from not having Modestini or some other compelling central figure. DARREN WINSTON: Once we've decided that the book is worth looking at for its condition, for its provenance. He was known to be fastidious in personal care, keeping a beard neat and trim in later age, and to dress in colorful clothing in styles that dismissed current customs. But he went even beyond that. Guinness World Records lists Leonardo da Vinci's Mona Lisa as having the highest ever insurance value for a painting. What was Leonardo da Vincis family like? Trained in Florence as a painter and sculptor in the workshop of Andrea del Verrocchio (1435-1488), Leonardo is also celebrated for his scientific contributions. The Wikipedia template uses a yearly average inflation. Something like the first printing in North America, or the first time a new word was used in print. He created something he called the Codescope, which was software built to help museum-goers actually read da Vinci's backwards scrawl. A list in another currency may be in a slightly different order due to exchange-rate fluctuations. He's gone to extra lengths to make this work as a whole more accessible to the public. Georgia O'Keeffe holds the record for the highest price paid for a painting by a woman. The two documentaries arrive at a time when films, podcasts and pop culture itself seem fascinated by art crimes, mysteries and forgeries. The painting sold for $119,922,500, Picassos Nude, Green Leaves and Bust (1932) sold at Christie's in New York for $106,482,500, Lhomme qui Marche I (1961) by Alberto Giacometti sold for 65,001,250 ($105,182,398) at Sothebys in London, Picassos Boy With a Pipe (1905) sold at Sotheby's in New York for $104,168,000, Gustav Klimts Portrait of Adele Bloch-Bauer II (1912)went under the hammer at Christies New York and sold for $87,936,000, Francis Bacons Triptych (1976) sold for $85.9m to oligarch Roman Abramovich, A Chinese 18th century Qianlong dynasty porcelain vase sold for 53,100,000 ($85,921,461) at Bainbridges auction house in London, Dora Maar au Chat (1941) by Pablo Picasso sold for 51,560,080 ($83,429,503) at Sotheby's in London, Portrait of Dr Paul Gachet (1890) by Vincent van Gogh sold for $82,500,000 (50,985,692) at Christies in New York, Thank you all for your bidding, said Pylkknen. CLIP OF BILL GATES: Taking Leonardo's notebook and translating them so everybody can understand the way that da Vinci thought a little better than before is very important. In this period, he painted very little and instead focused on his scientific activity, specifically his study of anatomy. Nonetheless, the exhibition went a long way toward legitimising a shaky attribution. Everyone spoke with the caveat that we could never really know what the Codex is worth unless it actually goes up for auction. In November 2017 Saudi crown prince Mohammed bin Salman paid $450 million for a da Vinci painting. However, weeks after the grand opening of his museum, where he planned to showcase the Codex and other art he had collected over the years, Hammer died at the age of 92. In 1472 Leonardo was accepted into the painters guild of Florence, but he remained in his teachers workshop for five more years, after which time he worked independently in Florence until 1481. On Sunday, May 29, a man disguised as an old woman in a wheelchair threw a cake at the Mona Lisa, Leonardo Da Vinci's legendary painting at Louvre, Paris. St John the Baptist by Leonardo da Vinci. An exceptional case is graffiti artist David Choe, who accepted payment in shares for painting graffiti art in the headquarters of a fledgling Facebook. On the telephone in this room at $28 million. Two of his most important worksthe Battle of Anghiari and the Leda, neither of them completedhave survived only in copies. He used his superb intellect, unusual powers of observation, and mastery of the art of drawing to study nature itself, a line of inquiry that allowed his dual pursuits of art and science to flourish. He also pulled together a list of artwork that he found it to be similar to. That estimate sort of got you thinking in another direction, though, right Chase? Antique Heliogravure on wove paper after t.. 620: 1893 Leonardo da Vinci Bust of an Old Man in Roman Costume print signed Est: $ 500 - $ 700 View sold prices Feb. 05, 2023 KCM Galleries Cape Coral, FL, US If all we do is adjust the $30.8 million that Gates paid for it for inflation, that gets us to somewhere around $50 million today. Pablo Picasso "Garon la pipe" (1905): $142.7 million 8. PETERSON-WITHORN: Given Simon's connections to the Salvator Mundi, and his experience running a gallery of Old Masters works, he seemed like an excellent source to speak with for this valuation. TINDERA: Okay, so our $4 billion estimate isn't all that realistic. So I thought, "What if Gates cut up all the drawings into individual little works of art and sold them off that way? Leonardo da Vinci was a Renaissance painter, sculptor, architect, inventor, military engineer and draftsman the epitome of a true Renaissance man. Inside besides da Vinci's writings, there are also about 360 drawings and diagrams throughout the manuscript. On the last telephone, 18 million. The alleged vandalism attempt on Sunday left the painting's glass covered in cake frosting. He also did not apply himself to higher mathematicsadvanced geometry and arithmeticuntil he was 30 years old, when he began to study it with diligent tenacity. SIMON: These went into the mix. Author of. But uncertainty is key to the appeal of every version of the story, as Lewis tells BBC Culture: "Nobody knows if it is a Leonardo, so you too can play the game, you can do your own Da Vinci Code on the Salvator Mundi. TINDERA: In his appraisal Simon selected five comparable works all from the Renaissance era. Oil tycoon Armand Hammer bought it that year, and 14 years later, Gates bought it at another auction. And we're going to show you how we narrowed that range to settle on one number. What is Leonardo da Vinci best known for? Top 10 most expensive works of art sold at auction - in pictures, Original reporting and incisive analysis, direct from the Guardian every morning, Moment Leonardo da Vinci's Salvator Mundi sells for record-breaking $400m - video, Salvator Mundi painting by Leonardo Da Vinci before and after restoration, Leonardo's Vitruvian Man can go to the Louvre, court rules, Leonardo and Raphael art swap marks end of France-Italy spat, Short of imagination: Germaine Greer scorns Leonardo da Vincis art, Leonardo da Vinci events marred by Italy and France row, Rare Leonardo da Vinci notebook to go on show at British Library, World's most expensive painting is authentic Leonardo, insists expert, Louvre Abu Dhabi postpones display of Leonardo's Salvator Mundi, Leonardo scholar challenges attribution of $450m painting, Leonardo's earliest surviving work? SIMON: What it does is make you realize how important the fact that the Codex has survived intact is. There was a bit of an odd snag with the purchase, and Forbes reported on it in 1994. Contemporary art, Mould told the Guardian, is where all the big money is. TINDERA: That's Darren Winston. And we can go into the auction record and look at previous copies of that exact same book, when it sold, where it sold, what its estimate was, what it brought. TINDERA: Simon also included another work by da Vinci: a sheet of studies including sketches of a child embracing a lamb. TINDERA: Hammer is also the great-grandfather of Hollywood actor Armie Hammer. In New York last night, he said he had never doubted the piece would break records. And that was the process. Then I went to those other items that were of kind of the same rarity as works of the Renaissance that had been on the market. [3] That boosted this forgotten painting into the limelight and kickstarted the. Kenneth Griffin acquired it in 2004 from Wynn. The paintings transferred to the dealers include a late, Alan Bond could not pay off the painting, and. CHASE PETERSON-WITHORN: Hi, Michela. And it was a challenge. The painting was consigned to Christies by Dmitry Rybolovlev, 50, a Russian fertiliser oligarch who has been at the center of an art-world scandal involving claims that a Paris-based dealer, Yves Bouvier, cheated the collector out of as much as $1bn on sales of 38 artworks, including the Leonardo. And so, the first place we looked were the auction records for the Codex from the 1980 and the 1994 sales. The Christie's sale itself was a highly staged drama, beginning with a marketing video that showed not the painting but the faces of observers most are ordinary people but one of them is Leonardo DiCaprio looking reverently at the image as if they were seeing Christ himself. In cases like these, that's why we have to turn to the experts who know more about this than us. A lost painting by Leonardo da Vinci may have been found in a Scottish farmhouse, reported The Daily Mail. TINDERA: But admittedly, Darren told us that he wasn't a da Vinci, or Codex expert and was hesitant to put a value on it out of the gate. All episodes of the Art Bust podcast are available now. Before this, the highest absolute price paid for a painting was 8.1 million (20.4 million in 2021 currency) paid by the J. Paul Getty Museum for Andrea Mantegna's Adoration of the Magi at Christie's in London on 18 April 1985. Then we look at the condition, and we base the condition on what's in our hands, and how you look at a book thats 150, 170 years old. The Louvre very much wanted to include it in its grand exhibition to celebrate Leonardo's 500th anniversary in 2019. 1 (Royal Red and Blue)", "Claude Monet (18401926), Odalisque couche aux magnolias", "Basquiat Tops Phillips Contemporary Sale at $85 Million", "Titian masterpiece Diana and Callisto saved for nation", "No. According to the provenance in the auction catalogue, a few Italian artists own the Codex after da Vinci's death, including a painter named Giuseppe Ghezzi, who apparently sold it in 1717 to Thomas Coke, a man who eventually became England's Earl of Leicester. I wana write a poem about it. She was universally considered to be the painter's sitter. The original one is now located at Muse du Louvre, Paris. The disciples, devastated by Christ stating one of them would cause his death, convey their feelings dramatically through their body language. Steve Wynn, who bid on the painting at auction, privately acquired the work several months later from the unidentified buyer for an undisclosed, supposedly lower price. 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That he gave up both projects seems to indicate that he had deeper reasons for leaving Florence. Alison Cole, editor of The Art Newspaper, has written extensively about the painting and saw it at the National Gallery. So first, we looked to experts in the world of rare books and manuscripts to learn about the qualities that make a book valuable. We know quite a bit about Leonardo's life from a mini-biography by Giorgio Vasari, a Leonardo fanboy and the world's first art historian.Born a nobody, Leonardo was a charismatic and complicated man self confident and not, driven and not, distracted and not. $450 million That price more than doubled the. Christies had also found placing the work, despite its celebrity, hard to fathom. TINDERA: Simon shared with us his own process for how he estimated the fair market value in the appraisal he put together nearly 30 years ago. It depicts the dramatic scene described in several closely connected moments in the Gospels, including Matthew 26: . It is Oil on wood and measures 168 x 130 cm (5 1/2 x 4 1/2 ft.). The image of Christ as The Saviour of the World was billed as The Last da Vinci at Christie's 2017 auction, where it sold for a record $450 million (342 million) to a proxy for bin Salman (yes, that bin Salman, whom the CIA found responsible for ordering the murder of the journalist Jamal Khashoggi). In 2011, the National Gallery included it in the exhibition Leonardo da Vinci: Painter at the Court of Milan. On November 20, 2014 at Sotheby's, the Crystal Bridges Museum of American Art bought her 1932 painting Jimson Weed/White Flower No. For example, on June 25, 2019, the American hedge fund manager J. Tomilson Hill bought a recently rediscovered Judith and Holofernes (1607) attributed to Caravaggio, two days before it would have been auctioned in Toulouse. The Salvator Mundi can be exhibited, and if it goes to a museum in Saudi Arabia, and people travel there and go to see it, I mean, it would have in terms of that income value I was talking about, it would have, you know, a phenomenal one, you know, perhaps quite in excess of the $450 million that it brought at auction. And then amid all of this, he buys this one-of-a-kind Leonardo da Vinci manuscript at a Christie's auction for $28 million. It would not draw more than the Salvator Mundi, which sold for $450 million. But, it makes up only about 0.1% of Gates' $134 billion fortune, which we estimated for the Forbes 400 this year. The inflation adjustment may change as recent inflation rates are often revised. There is so much information in the public sphere that everyone can have the illusion of being an insider. Various vandals have tried to harm da Vinci's famed masterpiece, and 1956 was a particularly bad year. Apparently, Hammer had made a habit of buying things with Occidental Petroleum money. It may have been that the rather sophisticated spirit of Neoplatonism prevailing in the Florence of the Medici went against the grain of Leonardos experience-oriented mind and that the more strict, academic atmosphere of Milan attracted him. He had just gotten married to Melinda Gates on New Year's Day of that year and was in the middle of building his multi-million-dollar mega mansion, Xanadu 2.0. So Gates sort of went out and bought the ultimate book. Fifty-five hundred to start. In the end, the picture was placed in Christies postwar and contemporary evening sale, wedged between lots of work by Cy Twombly, John Currin, Keith Haring and Jean-Michel Basquiat. SIMON: The Codex is something that for most of the year, let's say you have to keep it under lock and key and out of the light. "As long as this painting is hidden from the world and the future and fate of this painting is unknown, it's going to be clouded in a realm of mystery and the world will be ready to read anything new. The sale places Salvator Mundi as the highest-priced work sold privately or at auction, including Pablo Picassos 1955 Women of Algiers (Version O), sold for $179.4m, and Amedeo Modiglianis 1917-18 Reclining Nude, sold for $170.4m. In The Lost Leonardo, Evan Beard, a Bank of America executive who deals with art as investment, talks about the common buyers' motive of using artworks as collateral for other financial manoeuvres. MICHELA TINDERA: So its 1994, and were listening to an auction in a salesroom at Christie's in Manhattan. LONDON A tiny Leonardo da Vinci sketch sold on Thursday at Christie's for 8.9 million with fees, or about $12.2 million, a record price for a Leonardo drawing at auction . And how does that help us come up with a number for today? The Virgin and Child with St Anne was painted by Leonardo Da Vinci in 1510. The figure more than doubles the existing record for an artwork sold at auction: a $179.4 million bid for a Picasso in 2015. Leonardo grew up on his fathers familys estate, where he was treated as a legitimate son and received the usual elementary education of the day: reading, writing, and arithmetic. Well, as we mentioned, the most expensive painting ever sold at auction was the Salvator Mundi for $450 million. He had an exceedingly inquisitive mind and made strenuous efforts to become erudite in languages, natural science, mathematics, philosophy, and history, among other subjects. However, we should probably note that it seems unlikely that as the owner of the Codex, Gates would actually do this. ARCHIVAL CLIP OF ARMAND HAMMER: Another hat is my hobby for collecting art. Price excludes sales commission and other costs. This sale tripled the previous record, and introduced a new era in top art sales. Leonardos parents were unmarried at the time of his birth. But now the Salvator Mundi has become the poster boy for the volatile mix of money, power and geopolitics that defines the art world today. But even then, many Leonardo experts were dubious that the painting had more than a few brush strokes by him, and those doubts have ramped up ever since. Antoine Vitkine's film Saviour for Sale is most notable for some explosive additions about what might have happened behind the scenes at the Louvre. MASSEY: Nineteen-million five hundred thousand I'll be happy to take. Most art world observers thought the Salvator Mundi would be the centrepiece of a new museum or art centre in the region, but the painting has not been glimpsed in public since. According to a CNBC report, the median net worth of someone who is 66 years old, which is Gates' age is about $266,000. - The world's greatest art detective, - The men who Leonardo da Vinci loved, - The detail that unlocks the Mona Lisa. Later in 2002, Thomson donated his private collection, including the Rubens, to the. TINDERA: Simon talked about how there have been a certain subset of book dealers called "breakers," who made it their job to buy books and then tear them apart, selling their illustrated pages piece by piece. Not everyone is a fan. In this episode, we're taking you inside the world of rare books, manuscripts, and Old Masters works to tell you about how we've estimated the value of one very special notebook, with ties to the world's most expensive painting ever sold at auction: the Salvator Mundi. For this notebook, we considered values ranging from $50 million, all the way up to $4 billion. Hi, Chase. MASSEY: Twenty-seven million. The sale generated a sustained 20 minutes of tense telephone bidding as the auctioneer Jussi Pylkknen juggled rival suitors before a packed crowd of excited onlookers in the salesroom. MASSEY: Twenty-five million, twenty-six million. Taking inflation into account, the 1962 value would be around US$900 million in 2021. Still, it was a record-breaking event. The only non-Western modern artwork listed is that of the Chinese-French painter Zao Wouki's oil painting Juin-Octobre 1985, which was sold for $65 million in 2018. Please refer to the appropriate style manual or other sources if you have any questions. We also spoke with Stephen Massey, who we heard at the beginning of this episode. TINDERA: Right. SIMON: This is the clipping that I had taken out of the New York Times in 1980, when it was to be auctioned when Armand Hammer bought it. This is a list of the highest known prices paid for paintings. The earliest sale on the list below (Vase with Fifteen Sunflowers by Vincent van Gogh) is from March 1987; with a price of 24.75 million (74.1 million in 2021 currency). Five are traditional Chinese paintings by Qi Baishi, Wu Bin, Wang Meng and Xu Yang. Paintings are listed only once, i.e. DETAILS BELOW Leonardo da Vinci (born April 15, 1452) is famous for being painter. 1. Bouviers mark-up led to Rybolovlevs criminal complaint in a Mongasque court, alleging a scheme for overcharging him. In 1993, Simon was hired by the trustees of the Armand Hammer Museum to do an appraisal of the Codex back when it was known as the Codex Hammer. Leonardo spent 17 years in Milan, until Ludovicos fall from power in 1499. Christies CEO, Guillaume Cerutti, said he did not know whether the buyer would reveal themselves. The rest are owned by museums around the world. He was described in our Forbes 400 issue of the magazine that year as both a hard worker and brutally candid.. And one of the other, one of the principles and differences between, say an auction estimate and an appraisaland this is for what we call fair market value appraisalis that we come up with a single value, understanding that it's very rare that we kind of hit the bull's eye, but that is the opinion of the appraiser. When Leonardo was about 15, his father, who enjoyed a high reputation in the Florentine community, apprenticed him to artist Andrea del Verrocchio. You can't really show it offwhether it's to your best friends or in a museum if you're a public institution. Using monthly averages gives slightly different numbers, most significantly for paintings sold early or late in a year with significant inflation. Before Rybolovlev, Salvator Mundi had been owned by a consortium of dealers including Alexander Parish, who had picked it up for $10,000 at an estate sale in the US in 2005, and had had it restored and authenticated.