19 Sep 2009

High price expected for painting by Rembrandt

10:51 am on 19 September 2009

A painting by Rembrandt is expected to fetch a record price when it goes to auction in London on 8 December.

The work, entitled Portrait Of A Man, Half-Length, With His Arms Akimbo, was painted in 1658 and has not been seen in public for almost 40 years.

Christie's have given the portrait a pre-sale estimate of £18 - £25 million. The previous auction record for a Rembrandt is £19.8 million, set in London in 2000.

The BBC reports the art market has suffered during the global recession.

The painting was last sold at auction in 1930 for £18,500. In the 1950s, it was donated to Columbia University in the United States - before being sold again, to a private collector, in 1974.

It was last seen in public in 1970 at an exhibition in Detroit.