The Italian Government Just Paid Nearly $35 Million for a Rare Caravaggio Portrait—One of the Most Expensive Artworks It’s Ever Acquired

“Portrait of Monsignor Maffeo Barberini” had been on display in the Palazzo Barberini in Rome as part of a loan. Now, it’s part of the palace’s permanent collection

Sonja Anderson | Daily Correspondent

March 16, 2026

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Italy has purchased a portrait painted by the Baroque artist Caravaggio for nearly $35 million. Created around 1598, the artwork had been in a private collection in Florence, but it will now join the permanent collection of the Palazzo Barberini in Rome.

The palace is an appropriate home for the portrait, which depicts its onetime resident: Maffeo Barberini, a clergyman in his 30s who would later become Pope Urban VIII. According to a statement from Italy’s Ministry of Culture, the portrait is one of the most expensive artworks the country has ever acquired.

“This is a work of exceptional importance,” says Alessandro Giuli, Italy’s culture minister, in the statement, per a translation by the Art Newspaper’s James Imam. “We had the objective of making an artistic masterpiece that would otherwise be destined for the art market accessible to scholars and enthusiasts.”

In 2024, Palazzo Barberini displayed the painting in a temporary exhibition, “Caravaggio: The Portrait Unveiled,” after its owners agreed to loan out the piece. Though six decades had passed since art historian Roberto Longhi attributed the painting to Caravaggio in 1963, it had never been publicly displayed, and only a few specialists had seen it in person.

“This is the portrait by Caravaggio that everyone wanted to see for decades,” Thomas Clement Salomon, the director of the National Galleries of Ancient Art, which is located in Palazzo Barberini, told the New York Times’ Elisabetta Povoledo in 2024.

“Caravaggio: The Portrait Unveiled” concluded in February 2025, but Palazzo Barberini kept the painting on display through the end of its blockbuster “Caravaggio 2025” exhibition that July. During that time, Italian officials were negotiating with the portrait’s owners. Palazzo Barberini announced the acquisition on March 10.

Born in 1571, Caravaggio is known for his use of chiaroscuro, an artistic technique characterized by dramatic contrasts between light and shadow. He frequently depicted biblical scenes (including Judith Beheading Holofernes) and figures from mythology (such as Narcissus).

“We have the most important collection of Caravaggio and Caravaggesque paintings in the world,” Salomon tells Artnet’s Richard Whiddington. “The portrait is extremely important for the [National Galleries of Ancient Art], even more so for the venue of Palazzo Barberini.”

Experts have attributed around 65 paintings to Caravaggio, who died at 38, per the culture ministry. But only a few were portraits, making Portrait of Monsignor Maffeo Barberini an incredibly rare artwork. Barberini would become pope in 1623, and he commissioned Palazzo Barberini several years later.

When Longhi published his research on the painting, he argued that it was essential to understanding Caravaggio’s lesser-known portraits. According to the statement, Longhi singled out the painting as a founding moment of modern portraiture, noting Caravaggio’s skill at depicting psychological intensity.

Maria Cristina Terzaghi, a Caravaggio expert at Roma Tre University in Italy, tells the Art Newspaper that the acquisition is a victory for academia. Soon, following a professional restoration, researchers and art lovers will be able to study the portrait up close. “It is in good condition,” she says, “but it hasn’t been touched since the 1960s.”

Scholars have largely accepted Longhi’s attribution, Caravaggio expert Gianni Papi tells the Art Newspaper. Photos of the painting “left no doubt” about the identity of the artist. A recent analysis confirmed that the painting is the real deal, according to the statement.

“Caravaggio is the most iconic and famous painter in the world,” which explains the $35 million price tag, Papi adds. “It is a lot of money but also affordable. It could have been worth much more.”

Sonja Anderson | Read More

Sonja Anderson is a writer and reporter based in Chicago.