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Italy buys rare caravaggio portrait after year‑long talks
Published by Global Banking & Finance Review®
Posted on March 10, 2026
2 min readLast updated: March 10, 2026
Quick Summary
Italy’s Culture Ministry has acquired Caravaggio’s rare ‘Portrait of Maffeo Barberini’—a circa‑1598 work— for €30 million, marking one of the state’s highest-ever purchases of a single artwork. The painting will become part of the Palazzo Barberini’s permanent collection.
Italy Acquires Rare Caravaggio Portrait for €30M to Expand Cultural Heritage
Historic Acquisition of Caravaggio's Portrait by the Italian State
By Crispian Balmer
ROME, March 10 (Reuters) - Italy has bought a rare portrait by baroque master Caravaggio for 30 million euros ($32.7 million), one of the largest sums the state has ever paid for a single artwork, the Culture Ministry said on Tuesday.
Background of the Caravaggio Portrait
Painted around 1598, the work depicts Monsignor Maffeo Barberini, an influential cleric who later became Pope Urban VIII, one of the great patrons of the arts of his time.
The work had been held in a private Florence collection and was attributed to Caravaggio in 1963. It was shown in public for the first time in 2024 at Rome's Palazzo Barberini and will now enter that museum's permanent collection.
Negotiations and Acquisition Process
"After more than a year of negotiations, we are announcing today the acquisition... of an extraordinary masterpiece by Caravaggio," Culture Minister Alessandro Giuli said in a statement.
He described the purchase as part of a broader effort to strengthen Italy's public cultural heritage and prevent major works from disappearing into private collections.
Recent Art Acquisitions by the Culture Ministry
The acquisition comes a month after the Culture Ministry bought Antonello da Messina's "Ecce Homo" for $14.9 million, securing the rare work by the 15th‑century Renaissance master just as it was due to be auctioned in New York.
Caravaggio's Legacy and Artistic Significance
Caravaggio, whose real name was Michelangelo Merisi, was a master of the chiaroscuro technique of lighting to make his subjects seem to come alive. He died in 1610 in his late 30s after a turbulent life.
Rarity and Details of the Barberini Portrait
The painting of the future Pope Urban VIII is one of only a handful of surviving Caravaggio portraits, with others having been lost or destroyed. Only around 60 paintings worldwide are attributed to Caravaggio, many depicting religious narratives.
The Barberini portrait shows the bearded cleric seated and seemingly issuing instructions with a subtle gesture of his right hand.
Future Plans for Italy's Cultural Heritage
The Culture Ministry said it would look to buy more artworks in the coming months "with the aim of making available to scholars and enthusiasts certain masterpieces of art history that would otherwise be destined for the private market".
(Additional reporting by Alvise Armellini; editing by Gareth Jones )
Key Takeaways
- •The acquisition of Caravaggio’s 'Portrait of Maffeo Barberini' for €30 million is among the largest sums the Italian State has ever spent on a single artwork, as confirmed by Culture Minister Alessandro Giuli. (ansa.it)
- •Painted around 1598 and first attributed to Caravaggio in 1963, the portrait was privately held and was publicly exhibited for the first time in late 2024 at Rome’s Palazzo Barberini. (euronews.com)
- •The purchase reflects Italy’s ongoing strategy of securing masterworks for public collections—following its acquisition of Antonello da Messina’s “Ecce Homo”—to strengthen cultural heritage and limit losses to private ownership. (ansa.it)
References
Frequently Asked Questions about Italy buys rare Caravaggio portrait after year‑long talks
1How much did Italy pay for the rare Caravaggio portrait?
Italy paid 30 million euros ($32.7 million) for the Caravaggio portrait, making it one of the country's largest state art purchases.
2Who is depicted in the newly acquired Caravaggio painting?
The portrait depicts Monsignor Maffeo Barberini, who later became Pope Urban VIII, known as a major patron of the arts.
3Where will the Caravaggio portrait be displayed?
The Caravaggio portrait will be part of the permanent collection at Rome's Palazzo Barberini museum.
4Why was the acquisition of the Caravaggio portrait significant?
The purchase is part of Italy's effort to strengthen its public cultural heritage and prevent rare artworks from disappearing into private collections.
5How many Caravaggio paintings exist worldwide?
Only around 60 paintings worldwide are attributed to Caravaggio, making each acquisition significant.
