Full Breakdown
Auction of Historic George Washington Portrait Set for January
12/17/2025, 9:14:50 PM
Overview of the Portrait's Significance
An 1804 oil portrait of George Washington, painted by Gilbert Stuart and commissioned by James Madison, is set to be auctioned by Christie’s in New York on January 23, 2025. This portrait is one of the original inspirations for the image of Washington on the U.S. dollar bill and holds significant historical value, having passed through the hands of notable figures including Madison and a gold rush tycoon.
Historical Context of the Portrait
Gilbert Stuart, a Rhode Island native, sought to paint Washington to alleviate debts incurred during his time in Europe. After his release from an Irish debtors' prison, he traveled to New York, where he received a commission from Martha Washington. Stuart's portraits of Washington became highly sought after, particularly following the first president's death in 1799, which increased demand for his likeness. The portrait being auctioned is noted for its rapid execution, showcasing Stuart's ability to capture Washington's essence effectively.
Notable Ownership and Journey
The portrait was sold for $300 to businessman William Henry Aspinwall, who was instrumental in the development of the first transcontinental railroad. Aspinwall, an avid art collector, bequeathed the portrait as the only specified piece in his will. Over the years, the painting changed hands multiple times, with notable owners including James W. Ellsworth and philanthropist William K. Bixby. Eventually, it was donated to Clarkson University in New York, where it has been kept under protective measures.
Theft Incident and Recovery
In a notable incident, a group of fraternity members from the Rochester Institute of Technology attempted to steal the portrait, mistakenly believing it was a reproduction. Upon realizing its true value, they returned it unharmed to an Episcopal church in Buffalo. The students faced legal repercussions but ultimately had their charges expunged.
Auction Details and Market Expectations
With the upcoming auction, Clarkson University President Michelle Larson stated that the institution aims to find a "good forever home" for the portrait, with proceeds supporting its educational mission. Experts estimate that only 70 to 80 of Stuart's Athenaeum portraits remain, with the highest recorded sale reaching $1,062,500 in 2015. Debra Force, a former head of American paintings at Christie’s, believes the portrait's provenance will enhance its auction value, attracting private collectors rather than museums.
Verbatim Quotes
- “The portrait owned by Madison is masterful because it shows how rapidly it was created, said Martha Willoughby, a specialist in American art with Christieâ??s: â??The brushstrokes are so quickly and hastily done, but in that haste, he captures it beautifully.” — Martha Willoughby, Christie’s Specialist
- “â??We thought it could probably find a good forever home somewhere,â?? she said.” — Michelle Larson, Clarkson University President
Conclusion
The auction of this historic portrait not only represents a significant financial opportunity but also reflects the enduring legacy of George Washington in American culture. As collectors prepare for the live bidding, the portrait's journey from Madison's commission to its potential new home continues to captivate art enthusiasts and historians alike.
