Bonham’s had a surprise hit with their Old Master sale, according to the Telegraph, and this painting that was estimated in the £250,000 range but sold for £1.3m:
The work was thought to have been created by Andrea Locatelli but it was recently identified as being by another Italian painter – Giuseppe Zocchi. It was valued at £150,000 to £250,000 – but eventually went for £1.3 million, after a two bidders battled it out. […]
Another painting in the Old Master sale, valued at £50,000 to £80,000, went under the hammer for £625,000. Titled A Young Man At A Stone Window Playing A Theorbo-lute, the work is by Belgian artist Jacob van Oost, setting a world record price for that artist as well.
Speculating on why the paintings did so well, the Bonhams spokesman said Old Master paintings had a “track record” in terms of their value. He said the auction room was “absolutely packed” adding: “It was tremendous”.