A stunning Venetian cityscape by Canaletto, once owned by a British Prime Minister, is set to be auctioned in London next month. The painting, titled "Venice, the Return of the Bucintoro on Ascension Day," is estimated to fetch over £20 million (over $27 million).
The artwork, dating back to around 1732, has only been auctioned twice before, in 1751 and 1993. It will be the highlight of the 'Old Masters Evening Sale' on July 1st. The painting depicts the Sposalizio del Mare ceremony, a significant event in Venetian public life.
The painting was once displayed at 10 Downing Street, the official residence of British Prime Ministers. It was first mentioned in 1736 in the collection of Sir Robert Walpole, considered the first British Prime Minister. After his death, the painting was sold at auction and acquired by financier Samson Gideon. It remained in the Gideon family until 1930 and was last auctioned in 1993.