Canaletto sets records with a masterpiece of 18th-century Venice

An 18th-century Venetian masterpiece has set a new high on the international art market: "The Return of the Bucintoro on Ascension Day", a famous view of Venice by Giovanni Antonio Canal, known as Canaletto, has been sold at auction at Christie's in London for 31.9 million pounds, equivalent to approximately 37.2 million euros or 43.9 million dollars. This is the highest price ever achieved by a work by the Venetian artist, far exceeding its initial estimate of 20 million pounds. Canaletto's new world record prompted applause in the King Street room, home of the historic auction house.

The work, painted between 1731 and 1732, is an imposing canvas measuring 86 x 137 cm that represents the Venice lagoon during one of the most sumptuous ceremonies of the Serenissima Republic: the Feast of the Ascension. The scene depicts the Doge while, aboard the majestic Bucintoro, he performs the traditional "marriage with the sea", throwing a ring into the water to seal the eternal bond of the city with the Adriatic.

In addition to its artistic quality and "extraordinary" state of preservation, as Christie's stated, the work has a historical provenance of great importance. It was purchased in the 18th century by Edward Walpole, son of Robert Walpole, British Prime Minister and avid art collector. The painting adorned the offices of Downing Street for years, before being moved to the family estate at Houghton Hall after the end of Walpole's term in office in 1742.

“This is the pinnacle of Canaletto’s career,” said Andrew Fletcher, global head of Old Masters at Christie’s. “In this painting, the artist combines a rigorous architectural analysis of Venetian monuments with an extraordinary sensitivity to light and atmosphere.”

The success of the work at auction confirms not only Canaletto's artistic value, but also the fascination that his Venice continues to exert on international collectors. The previous record for the artist dates back to 2005, when "The Grand Canal from the Palazzo Balbi towards the Rialto Bridge" was sold by Sotheby's in London for 18.6 million pounds. Both works originally belonged to the Walpole collection, demonstrating how early and influential the English interest in Venetian vedutism was.

The record-breaking painting represents a Venice suspended between the glory of its tradition and the immortality of myth. The Ascension ceremony, abolished with the fall of the Republic in 1797, comes to life with vivid precision in every brushstroke by Canaletto, who not only renders the architectural details of the city, but also the collective euphoria of a people who are reflected in their own sea. With this new record, Canaletto confirms himself not only as a master of vedutism, but also as an absolute protagonist of the Old Masters market. And he demonstrates, once again, that the charm of Venice is destined to shine well beyond the confines of time.

(by Paolo Martini)