A 16th-century portrait, attributed only to the "French or Flemish School," sold for $2.3 million at a Sotheby's New York auction, soaring past its estimate and sparking a 10-minute bidding war. The work, from the collection of Dutch electronics magnate Anton Philips, was once attributed to Corneille de Lyon and later to Lucas de Heere, but its ultimate authorship remains uncertain.
The sale price is puzzling to experts, as it more than doubles the existing auction record for a confirmed work by Corneille de Lyon. The frenzy highlights the powerful role that speculation, provenance, and competitive bidding can play in the art market, sometimes driving prices to levels that defy traditional valuations based on attribution and condition.