Unknown Canaletto Artwork Fetches Triple Estimate

An exceptional 'capriccio' by the celebrated 18th-century Venetian artist Canaletto, whose real name was Giovanni Antonio Canal, has achieved a remarkable £135,000 at auction. The previously unknown work, titled 'Ruins of a Pavilion and an Arcade over the Water,' far surpassed its pre-sale estimate of £40,000 to £60,000, selling for more than double that expected price.

Art historians have hailed the piece as a "masterpiece," noting its depiction of "architectural splendors of the past in ruins." Canaletto, famous for his cityscapes of Venice and London, also created 'capriccios' – fanciful imaginary scenes, often featuring classical ruins – which were highly esteemed in Italy. This particular unrecorded work is believed to have been acquired by Georgian composer Charles Burney and has remained within his family for generations.

An inscription on the reverse of the artwork suggests it was a personal gift from Canaletto, reading, "a Present from Sig Canal d Canaletti." The sale took place at Mallams auction house in Oxford, generating significant interest among collectors for this rare discovery.