Old master week in New York is fast approaching, and one of the highlights will be provided by Giovanni Paolo Panini's View of the Campidoglio, Rome painting.
The $5m high-estimated oil on canvas, produced by Panini in 1750, will be offered during the first part of Christie's Old Master Paintings auction on January 30.
Hopes are high for the piece, with works connected with Panini performing well of late. An artwork from the studio of Panini brought a 20% increase on its £25,000 high estimate in October, selling for £30,000 ($47,940) at Christie's Old Masters and British Paintings auction in London.
The sale will also feature his $3m-valued View of Saint Peter's Square, Rome, while Jean-Baptiste-Simeon Chardin's (1699-1779) The Embroiderer will also feature prominently, armed with a $5m high valuation.
The second part of the sale, held the following day, will showcase Abraham Bloemaert's rediscovered Two Boys Singing, which has a $150,000-250,000 estimate.
These are exciting times for those diversifying into the old masters sector; Raphael's Head of an Apostle became the most valuable old master drawing ever sold at auction, when it achieved $47.8m at Sotheby's in December, while the Mei Moses Fine Art Index reported a 5.6% increase in value for old masters during the first three-quarters of the year.
If you're a fan of the old masters, make sure you're a regular visitor to Paul Fraser Collectibles over the coming weeks as we cover all the action from New York.
We have a superb range of art for sale in our online store.