Thaindian News

By Meena Kar
London, United Kingdom, Mar 31, (THAINDIAN NEWS) The family of Princess Diana who died of a car accident in 1997 is according to reports going to auction some famous paintings, furniture, porcelain items along with horse drawn carriages to raise money to secure the financial future of the Althorp estate reportedly. The reports mention that a London auction house on Monday has declared that the auction will be held this summer. The sale value of the items set for auction is according to reports, around $30 million.

The paintings to be auctioned by the ancestral estate of the late Princess contain masterpieces by the Flemish artist Peter Paul Rubens and a painting by 17th century Italian master Il Guercino. The pictures are some of the few which are still with private owners and according to sources are still in a good condition which will earn them international appeal. Peter Paul Rubens’ original painting “A Commander being armed for Battle” was with the Althorp estate for the last 200 years and was painted in the year 1613 or 1614. The painting shows a bearded man looking at the viewer and some experts believe the portrait to be that of Emperor Charles V. The painting according to sources is expected to draw 8-12 million pounds or $12-18 million.

Another painting to be auctioned is Il Guercino’s “King David” which will fetch around 5-8 million pounds to the estate. The painting was purchased for the Great Room of the Spencer House at London. Princess Diana’s brother Earl Spencer is the head of the Althorp estate which is undergoing a 10 million restoration attempt. According to the trustee of the Althorp estate, the action of the items is being done to secure the future of the estate.