Salvator Mundi Sale Price and Transaction Details
The Salvator Mundi, attributed to Leonardo da Vinci, sold at Christie's New York in November 2017 for $450.3 million, including buyer's premium, setting a record for the most expensive artwork ever sold at auction. The lot was lot 69 in the Post-War and Contemporary Art Evening Sale, and the sale was conducted under the auspices of Christie's with a pre-sale estimate of $100 million. The buyer was later identified as a consortium acting on behalf of the Department of Culture and Tourism Abu Dhabi, with the Saudi Arabian Prince Badr bin Abdullah bin Mohammed Al Farhan as the intermediary. The work was later lent to the Louvre Abu Dhabi for display under the title "Salvator Mundi." For the full sale details, see Christie's official sale page here.
The transaction was structured as a private treaty sale following the auction, with the final price of $450.3 million making it the highest price ever paid for a work of art at the time. The sale was conducted in US dollars, and the buyer's premium was included in the final hammer price. The work was previously owned by a private European collection and had been restored in 2005, which contributed to its attribution to Leonardo da Vinci. The sale was announced on November 15, 2017, and the transaction was completed shortly after the auction. For additional context on the sale, see the Forbes coverage here.
Buyer, Ownership, and Current Location
The Salvator Mundi was acquired by a consortium acting on behalf of the Department of Culture and Tourism Abu Dhabi, with the Saudi Arabian Prince Badr bin Abdullah bin Mohammed Al Farhan serving as the intermediary. The work was later loaned to the Louvre Abu Dhabi for public display under the title "Salvator Mundi." The ownership structure involved a group of investors, including the Saudi Arabian government, and the work was later transferred to the Abu Dhabi Department of Culture and Tourism. For more details on the ownership, see the official Louvre Abu Dhabi page here.
The work was previously owned by a private European collection and had been acquired at a 2005 auction in New York for a fraction of its later sale price. The restoration and re-attribution to Leonardo da Vinci were key factors in the dramatic increase in value. The sale was conducted under the auspices of Christie's, and the buyer's identity was not immediately disclosed, leading to widespread speculation. The work was later lent to the Louvre Abu Dhabi for a temporary exhibition, and its current location is managed by the Abu Dhabi Department of Culture and Tourism. For more information on the current location, see the official Christie's page here.
Market Impact and Art World Significance
The Salvator Mundi sale had a significant impact on the art market, with the record price influencing valuations of other Old Master paintings and works attributed to Leonardo da Vinci. The sale was widely covered in financial and art news outlets, and the price was seen as a benchmark for high-value art transactions. The sale also highlighted the role of private collectors and sovereign wealth funds in the art market, with the Saudi Arabian government and the Abu Dhabi Department of Culture and Tourism playing key roles. For