How Salvator Mundi Became Art’s Biggest Gamble
The image of Jesus Christ holding a crystal orb is forever enshrined in the art world through the painting Salvator Mundi (Latin for “Savior of the World”), a piece believed by some to be a long-lost work of Leonardo da Vinci. Yet, this claim has been fiercely debated by experts. The auction house Christie’s acquired the controversial painting after it sold for a mere £45 in 1958, presumed to be just a copy. Many saw the risk of marketing it as a da Vinci, but auction executive Loic Gouzer recognized a rare opportunity. In 2017, Salvator Mundi was sold to a Saudi prince for $450.3 million, becoming the most expensive painting ever sold. Gouzer’s strategy demonstrates a bold approach that could revolutionize the business world – requiring exceptional skill, intellect, and deep market insight to pull off.
Loic Gouzer took an unconventional approach when selecting his target buyers. The controversy surrounding Salvator Mundi would easily deter traditional art enthusiasts intent on preserving history. Why would they buy a painting with its status as a da Vinci still widely disputed? Instead, Gouzer aimed for a different audience – tech billionaires and modern-day moguls. Such buyers often value personal brand and social status over historical authenticity. So, rather than placing the supposed Renaissance painting in a traditional Old Masters auction, he positioned it in a contemporary art auction, where he would attract the right buyers.
Realizing that contemporary auction placement alone wouldn’t suffice, Gouzer executed a masterful marketing strategy. The promotion couldn’t be bland or straightforward; facts and logic alone wouldn’t inspire the desired impact. Christie’s launched a campaign that emphasized the emotional and symbolic allure of the painting. In one promotional video, viewers are shown reacting with tears as they gaze upon the painting of Jesus Christ, evoking a sense of awe and reverence that resonated deeply. To elevate its grandiosity, they dubbed it the “Male Mona Lisa,” boldly comparing it to one of the most famous artworks in history.
Gouzer also incorporated psychological pricing into his strategy. He leveraged the anchoring effect, where individuals rely heavily on initial information in decision-making, by setting the opening bid at $100 million. This was an extremely high starting bid, especially given the painting’s questionable authenticity. Yet, rather than fixating on this radical move, the conversation shifted from “Is this painting authentic?” to “Is this painting worth $100 million?”
The results speak for themselves. Two bidders competed fiercely, pushing the final price to $450.3 million. The buyer, a Saudi prince, is rumored to have acted as a proxy for Crown Prince Mohammad Bin Salman, presumably the painting’s true owner. This outcome further underscores the effectiveness of Gouzer’s strategy. To replicate such success, one must be willing to transgress conventional barriers and craft innovative strategies that resonate with the target audience. It’s like playing chess—only with financial returns on the line.