Gilbert Stuart's Washington Portrait, Basis for Dollar Bill Image, Sells for $2.88 Million

An Athenaeum-style portrait of George Washington, widely regarded as the inspirational source for the likeness featured on the United States one-dollar bill, realized a final sale price of $2,881,000 at Christie's in New York. The transaction occurred during the specialized auction event titled 'We the People: America at 250,' marking a significant moment for early American artifacts entering the market.

The painting, created by the renowned artist Gilbert Stuart, substantially exceeded its pre-sale high estimate of $1 million, indicating strong collector interest in foundational American iconography. The portrait holds a direct historical connection to the nation's early governance, having been commissioned by President James Madison in 1804. The seller was Clarkson University, which elected to divest the painting to generate capital dedicated to advancing its core educational mission, a trend seen as universities monetize cultural assets for programmatic needs.

Gilbert Stuart is celebrated for his series of Washington portraits, with the Athenaeum version being among the most frequently reproduced images of the first President. The version sold at Christie's is one of several Stuart painted, and its high valuation reflects not only the artistic merit but also its unique status as a direct visual antecedent to the image on American currency. The auction itself was curated to coincide with the nation's observance of its quarter-millennium milestone, drawing bidders interested in tangible pieces of the Revolutionary and early Federal periods.

The $2.881 million result positions this specific Stuart portrait among the more valuable pieces of American portraiture to reach the market in recent years, underscoring the premium placed on works connected to the Founding Fathers. The funds generated will be directed by Clarkson University, located in Potsdam, New York, to support scholarships, faculty research, and facility upgrades, translating a piece of history into future educational opportunity, particularly for its STEM-focused curriculum.

Further examination of Stuart's output reveals he painted at least six full-length portraits of Washington, alongside numerous other studies. The Athenaeum Portrait, specifically, was never delivered to its original commissioner, remaining in Stuart's possession until his death, which adds a layer of provenance intrigue to the piece sold by the university. This history, combined with its role as the model for the currency, elevates its significance beyond that of a typical historical painting.