It was discovered in a dusty attic in France in 2014, damaged by a leaky water pipe. But now, after intensive restoration, a painting believed to be by Italian Master Caravaggio is expected to fetch up to €150 million when it goes under the hammer in June.

Under the hammer

The auction will take place in Toulouse where the artwork was found. The painting, called Judith and Holofernes, is believed to have been completed in Naples in 1607, before Caravaggio came to Malta in July of the same year. Experts say the painting is darker, more sombre and more extreme in style than the Master's previous works, not unlike The Beheading of St John the Baptist in St John’s Co-Cathedral in Valletta.

A collector's take

Malta's own Giovanni Bonello, former European Court of Human Rights Judge and avid art collector, says of the piece: “I get very excited when I hear news like this, as it is such a rare find. You need an expert eye to know whether this is a genuine Caravaggio or not, as there were a lot of people who copied his style, so it can be hard to identify what’s the real McCoy.”

If it is real, Judith and Holofernes will be the 66th original artwork carried out by Michelangelo Merisi da Caravaggio in the world. Dr Bonello is among those lucky enough to own a Caravaggio himself, but even he can’t be 100 per cent sure it’s real. “I have a painting that is attributed to Caravaggio,” he says. “Some people who have seen it say it’s an original, some say it isn’t.”

What Dr Bonello is sure about, however, is the strong connection that Malta has with the artist, who sought refuge here after fleeing from Rome and then Naples after committing a murder. “I think we have a special relationship with him because he had a number of adventures here, first becoming a Knight of Malta and then being disrobed.”

And just like Caravaggio, the artwork Judith and Holofernes has had some adventures of its own! A series of documents reveal it had several owners between 1607 and 1617, and travelled from Italy to Antwerp. Then it disappeared for a long time, before ending up in the house in Toulouse.

Hefty price tag

But is it worth the price tag? “A genuine Caravaggio hasn’t been on the market in ages, so while there is a guide price on this painting, we can’t tell what it will eventually sell for, as there have been so few,” continues Dr Bonello. “Secondly, a price for something like this comes down to what a buyer and seller are willing to pay for it, so it doesn’t have a standard price. It’s not like a can of beer!”

Meanwhile, here in Malta, more than 450,000 people visit St John’s Co-Cathedral to see the Caravaggio painting every year, making it the most popular tourist site in Malta. Later this year, a special wing of the museum will be opened just to celebrate the artist, and will also house St Jerome - a second work he did while living on the island.