Italy Purchases Rare Caravaggio Portrait for $34.7 M.
Italy has purchased a rare Caravaggio portrait for €30 million ($34.7 million), one of the largest sums ever paid by the state for a work of art, according to the country’s culture ministry. The painting, depicting the cleric Monsignor Maffeo Barberini—who would later ascend as Pope Urban VIII—was described as being of “exceptional importance,” Alessandro Giuli, Italy’s culture minister, said in a statement. The portrait had been kept in a private collection in Florence and was first shown publicly in 2004 in Rome. Following its purchase by the Italian state, it was transferred to the permanent collection of the Palazzo Barberini, the historic residence of the Barberini family, where it will be exhibited alongside other works by Caravaggio. The master Baroque artist painted Barberini around 1598. The composition anticipates his eventual rise to power: draped in a resplendent green cleric’s cloak, his right hand is outstretched, casually issuing orders to an unseen figure outside th...