Lucas van Leyden (Leiden 14891494-1533), A Young Man Standing. 11 x 5⅛ in (27.9 x 13.2 cm). Sold for £11,483,750/ $14,607,330/ €12,827,349 (estimate: in the region of £1.5 million) Setting a World Record Price for the Artist at Auction. © Christie’s Images Ltd 2018. 

LONDON.- Having been carefully selected to ensure that nothing intrinsic to the history of Rugby School was sold, the sale Old Masters/New Scholars: Works of Art to Benefit Rugby School on 4 December realised a total of £14,794,125 / $18,818,128 / €16,525,039, far exceeding all pre-sale expectations. 83% sold by lot and 99% sold by value, the sale inspired widespread interest from across the globe with registered bidders from 33 countries across 5 continents. Over 40% of the lots were sold to or directly underbid by online bidders on Christie’s LiveTM. The star of the sale, Lucas van Leyden’s very rare drawing, A young man standing, sparked fierce competition between three bidders, resulting in it selling for £11,483,750/ $14,607,330/ €12,827,349, far exceeding its pre-sale estimate (in the region of £1.5 million). This result sets not only a new world record price for the artist at auction, it makes van Leyden only the second Old Master – joining Raphael – with a drawing selling over £10 million. Four auction records were set, including a new record price at auction for a work on paper by Sir Edward Poynter P.R.A.. 

Jane Blood, Christie’s Head of Sale: “It has been a great pleasure and privilege to have been entrusted with the sale of works of art from Rugby School. We are thrilled with the result for the beautiful drawing by Lucas van Leyden, an extraordinary rarity which sold for £11,483,750, setting a new world record price at auction for the artist and for a Northern European Old Master drawing. Sir Edward John Poynter’s unusually large and recently re-discovered drawing sold for £332,750 setting a new world record price for a work on paper by the artist. New and existing collectors, institutions and Rugbeians alike have participated across all categories and we are delighted that some of the proceeds will go towards a new museum space at Rugby School to inspire the collectors of future generations.” 

Peter Green, Head Master of Rugby School: ‘We are very grateful to those benefactors who bequeathed such an impressive collection of artworks to Rugby School, and we are delighted with the outcome of today’s sale. We shall be using a portion of the proceeds to create a newly designated museum space on the School site for that part of our collection which is intrinsic to the history of the School and which was not part of the auction. This will allow us to ensure that the remaining collections and the School archives are correctly stored and preserved, and are also appropriately displayed for the wider benefit of the Rugbeian community. The School’s Governing Body will now consider how to ensure the rest of the proceeds are used to benefit the School’s current and future students in keeping with the benefactors’ wishes.'