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christies auction painting george washington one dollar bill 1234767393

Christie’s will auction an 1804 oil portrait of George Washington by Gilbert Stuart, estimated at $500,000 to $1 million, during its “We the People: America at 250” sale in early 2025. The painting was commissioned by President James Madison and served as a model for the engraving on the one-dollar bill. It was recently deaccessioned by Clarkson University, a technical school in upstate New York, which decided to sell the work to coincide with the 250th anniversary of the United States, with proceeds supporting the university’s educational mission.

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Christie’s is launching its largest-ever Americana Week in January, featuring a George Washington portrait by Gilbert Stuart that inspired the dollar bill. The painting, commissioned by James Madison, is expected to fetch between $500,000 and $1 million. The auction includes 700 lots across nine sales, with highlights such as a signed Emancipation Proclamation and the contract that created Apple. The portrait, a Vaughn-type from 1795, was consigned by Clarkson University and has a provenance tracing back to Madison, confirmed by a 19th-century catalog and a note from Madison’s secretary.

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