A sprawling Italian villa containing the only ceiling painting by Caravaggio could become one of the most expensive properties ever sold when it goes up for auction for nearly €500million (£422million).
Casino di Villa Boncompagni Ludovisi, otherwise known as Villa Aurora in Rome, was part of a country retreat built in the 16th century by Cardinal Francesco Maria Del Monte.
The home features a 2.75m wide painting by Italian Baroque master Caravaggio, titled Jupiter, Neptune and Pluto, which alone has been valued at €310million (£260million).
A sprawling Italian villa containing the only ceiling painting by Caravaggio (pictured) could become the most expensive property ever sold
Casino di Villa Boncompagni Ludovisi was formerly known as Villa Aurora, Rome. It was part of a country retreat that was built in the 16th Century.
Caravaggio created the painting in the former hunting lodge in his 20s. The three gods depicted in the painting are believed to have been based on his own face.
The artwork, which is unusual in that it is painted in oils on plaster, is located in the property’s alchemy laboratory.
The cardinal sold his villa to the noble Ludovisi family in 1621. They had close ties to Pope Francis and still own the home today, although they have sold all other parts of the estate.
The villa is located just a stone’s throw away from the Spanish Steps, the Borghese Garden, and also has rooms frescoed in Caravaggio’s contemporary Guercino.
The villa is just a few steps from the Spanish Steps as well as the Borghese gardens. It also has rooms that were frescoed with Caravaggio’s contemporary Guercino (pictured).
The property will go on auction on January 18 with an opening bid of €471million (£397million).
The most expensive residential real estate ever bought according to publicly reported sales is the £477million Ho Tung gardens in Hong Kong, Christie’s records say.
The second highest, also in Hong Kong, is Pollock’s Path Estate which sold in 2017 for £260million.
Ho Tung gardens were sold as land. Pollock’s Path Estate, however, is an apartment building.
For a single family home, the most expensive sale is the £230million La Belle Epoque in Monaco.
Alessandro Zuccari, a history professor at Sapienza University in Rome who helped value the mural, told The Guardian: ‘Del Monte bought property there, which he restructured before commissioning Caravaggio to paint the mural in his lab, which was only a very small room.
“It’s an exceptional work, which was difficult to price, considering that it was the only Caravaggio mural and so we didn’t have anything to compare it with.”
The property’s sale comes after a lengthy inheritance dispute following the 2018 death of its owner Prince Nicolò Boncompagni Ludovisi
The property’s sale comes after a lengthy inheritance dispute following the 2018 death of its owner Prince Nicolò Boncompagni Ludovisi.
Zuccheri said that there are other rooms in the house that are stunning, but the most important are two rooms featuring works of Caravaggio & Guercino. Zuccheri called the home ‘unique’.
Many other antiques can be found in the corridors, but many Roman statues can now be seen at the National Roman Museum. They were purchased by the Italian government.
After an auction bid is accepted, the state can then buy the property for the same price as the original bidder. The property is protected by the ministry on culture.
It is not clear if the government would be able pay such a high price for a property that has remained mostly hidden for centuries.
Whoever buys it will then have to spend another €11million in restoration costs, it has been estimated.
The property will almost certainly become the most expensive ever sold at auction, far eclipsing the £37million Beverly Hills mega mansion with 20 bedrooms which was bought this year.
The world’s most expensive private home is Antilia (pictured) in India although it has not gone on sale since it was built in 2010 for an estimated £1billion
If the sale goes through, it would also rival the £363million asking price for the Los Angeles pad which was previously dubbed the highest ever on the market.
Dubbed ‘The One’, the 105,000-square-foot Bel Air estate is now being sold at a far lower price after its owner defaulted on more than $165 million in debt, according to court filings.
It was placed into receivership by the Los Angeles County Superior Court as the mansion’s owner, Nile Niami, held millions in debt and loans.
Niami, a property developer bought ‘The One’ in 2012 and has spent nine years promising that he would build the most luxurious home in America and then sell it for a profit. But he was unable to finish the construction or find a buyer since it went up for sale in January.
Although The One is almost finished, it is not clear how much it will sell for.
The world’s most expensive private home after Buckingham Palace is Antilia in India although it has not gone on sale since it was built in 2010 for an estimated £1billion.