A 16th-century portrait, attributed only to the "French or Flemish School," sold for $2.3 million at a Sotheby's New York auction, dramatically exceeding its estimate. The work, from the collection of Dutch magnate Anton Philips, sparked a 10-minute bidding war among four participants, likely driven by speculation it could be by the Dutch-born French painter Corneille de Lyon.
The sale highlights the powerful influence of attribution and provenance in the art market, where even uncertain connections to a notable artist can drive prices to record levels. While the painting's exact authorship remains a mystery, the frenzy demonstrates how auction dynamics and collector competition can create valuations far beyond what private market experts deem reasonable for similar works.