Canaletto Venice Painting Formerly Owned by UK PM Sets £32m Auction Record

The painting "Venice, the Return of the Bucintoro on Ascension Day," created circa 1732 by Italian artist Canaletto, was sold at Christie's in London for a record £31.9 million, exceeding the £20 million estimate. This historic artwork was once displayed at Number 10 Downing Street during the tenure of the UK's first prime minister, Robert Walpole, highlighting its notable provenance. The sale attracted intense bidding, with an anonymous phone bidder ultimately winning after a competitive auction. The painting is distinguished by its exceptional condition and size, larger than other Canaletto works sold at auction in recent decades. It marks only the third time the piece has come to auction since the 18th century, its previous sales in 1751 and 1993, the latter achieving £7.5 million. Experts noted the work’s importance in Canaletto’s oeuvre and its enduring appeal to British art collectors, reinforcing the artist's status as a leading 18th-century Venetian view painter.