FOUND > Painting Fetches $450 Million

Bought in Louisiana, in 2007, for $10,000

Video
The discovery of the Leonardo da Vinci painting as told by CBS News.

November 16, 2017
By James Massey, What Sells Best News

NEW YORK (VIDEO) - CBS News reports, a painting bought in Louisiana a decade ago, for $10,000. Has stunned the art world, by fetching $450 million at auction.

THE STORY

Reportedly, the 500-year-old painting, was purchased in 2007, by art collector Robert Simon, for $10,000. He bought the painting with hopes it had been painted by a student of Leonardo da Vinci.

After years of extensive research by scholars and art historians, it was determined the painting was not by a student. Instead, it was by the master himself, Leonardo da Vinci.

The painting, a 16th century work which depicts Jesus holding an orb, and pointing to the heavens, is named Salvator Mundi, or Savior of the World.

Prior to the auction, the painting received worldwide media attention, with most reporting estimates of more than $100 million. However, nobody was prepared for what actually happened.

A bidding war broke out immediately. And at one point a collective gasp could be heard in the room, when bidding jumped $30 million, from $370 million, to $400 million.

The total price was $450 million after the buyer's premium. The sale also set a new world record for the most expensive painting ever sold at auction.

WHY IT'S RARE

Reportedly, the painting is one of 16 known by the Renaissance master. This makes it extremely rare, especially with it being the only one privately held.

AUCTION INFORMATION

Leonardo da Vinci's, Salvator Mundi, was sold on November 15, 2017, by Christie's auction house in New York. The Painting sold for a total price of $450,312,500 after the buyer's premium. The sale was identified as LOT 9B.

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