£50 Million Art Found

With Hugh Grant poised to make a killing by auctioning his Warhol portrait of Elizabeth Taylor, The Daily Mail reveals that one of the British art world's most distinguished figures has created a multi-million pound sensation much closer to home. Veteran art historian Sir Denis Mahon has discovered a previously unknown Caravaggio. His authentication of the painting has sent its value rocketing from £50,000 to an estimated £50 million — and sent shockwaves through the international art community. Multi-millionaire Sir Denis, an expert on 17th century Italian art, chose the celebration of his 97th birthday last Saturday at the Belgravia headquarters of the Italian Cultural Institute to drop his bombshell. During dinner, Sir Denis — whose fortune stems from the Guinness Mahon bank — produced the canvas, which was bought for £50,400 at Sotheby's last December by an anonymous UK buyer. It had been described at the auction as the work of "a follower of Caravaggio". But Sir Denis, after examining the work in minute detail, revealed it had in fact been painted by the Milan-born artist in about 1595. (For full source and full article click the Headline). Irish Art