The base price drops by 20 percent to 377 million euros. With a discount prescribed by Italian law if there is no bidder, the minimum bid would then amount to 282 million euros for the property previously valued at 471 million euros with works of art.
Discussion
The auction caused a lot of discussion in Italy. The house is currently partly open to the public. Critics fear that this will change after the sale. The hope is that the government can buy the villa and keep it as a public good.
The property was built in 1570 and contains the only known ceiling painting by Baroque artist Caravaggio. The estimated value of this work of art alone is estimated at 300 million euros. In addition to beautiful gardens, the house is also adorned by a large fresco by baroque painter Guercino, called Aurora. The villa owes its nickname Casino dell’Aurora to this painting.
The villa had been in the possession of the Ludovisi family since the early seventeenth century. When owner Nicolò Boncompagni Ludovisi passed away in 2018, his children from his first marriage came into conflict with his third wife over the inheritance. A judge ordered the house to be auctioned.