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trending_up market schedule Jul 7, 2025 visibility 10 link 14 artists, 2 galleries

londons old masters week sees rare works sell and mid market paintings struggle 1234746818

Christie's, Sotheby's, and Bonhams held Old Masters auctions in London, with Christie's achieving a record £31.9 million ($43.7 million) sale for Canaletto's *Venice, the Return of the Bucintoro on Ascension Day* (circa 1732), more than half the sale's total of £60.8 million. The painting, once owned by Robert Walpole, set a new auction record for the artist. Sotheby's evening sale brought in £14.5 million, with J.M.W. Turner's rediscovered *The Rising Squall, Hot Wells, from St Vincent's Rock, Bristol* (1792) selling for £1.9 million, seven times its estimate. However, mid-market paintings struggled, and the Bristol Museum and Art Gallery failed to acquire the Turner despite fundraising £109,000.

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Turner painting bought last year for £500 sells for almost £2m at Sotheby's

At Sotheby's Old Master paintings evening sale in London on July 2, a Turner painting purchased last year for £500 sold for nearly £2 million, highlighting the sector's resilience. The auction achieved £11.5 million hammer total (£14.5m with fees), with 81% of lots sold, including a rediscovered 14th-century Byzantine icon that far exceeded estimates and three new artist records for Lorenzo di Credi, Corneille de Lyon, and others. The sale contrasted with Christie's previous evening's £46.2 million total driven by a record Canaletto.