Iconic Washington Portrait, Inspiration for $1 Bill, Heads to Auction
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A celebrated portrait of George Washington by Gilbert Stuart, the very image that graces the U.S. one-dollar bill, will be offered at auction by Christie’s in New York on January 23. The sale is a centerpiece of “Americana Week,” a series of nine auctions commemorating the 250th anniversary of the United States, and featuring over 700 historically significant lots, including a signed copy of the Emancipation Proclamation and Apple’s original founding contract.
A Presidential Commission and Enduring Legacy
Commissioned by James Madison, the fourth president of the United States, the portrait is estimated to fetch between $500,000 and $1 million. The painting’s significance extends beyond its monetary value; it represents a pivotal moment in American art and national identity. Stuart, despite Washington’s initial reluctance to sit for portraits, painted the first president multiple times, creating several iconic representations.
The “Athenaeum” and Its Lineage
This particular work belongs to the renowned “Athenaeum” series, considered the most famous of the three main versions Stuart produced in the 1890s – alongside the “Vaughn” and “Lansdowne” types. Martha Washington originally commissioned the “Athenaeum,” but Stuart strategically left it unfinished, allowing him to retain a copy for reproduction and sale.
The painting’s provenance has been meticulously traced, revealing a distinguished chain of ownership. Following its time with President Madison, it passed to his wife, then to their son, and subsequently to prominent figures including the magnate William Henry Aspinwall, industrialist James W. Ellsworth, and collector William K. Bixby. Finally, it found a home with the Clarkson family, founders of Clarkson University, where it has remained until now.
Rising Demand for Stuart’s Masterpieces
Experts estimate that approximately 75 copies of the “Athenaeum” series exist today. The current auction record for a portrait of this type stands at $1.06 million, set in 2015. According to Christie’s specialists, this particular example has the potential to surpass that figure, reflecting a growing appreciation for Stuart’s artistry and the enduring fascination with America’s founding father. “The market for American historical portraits is exceptionally strong,” one analyst noted, “and this piece represents a unique opportunity to acquire a truly iconic image.”
