A painting by Denmark's artistic Queen Margrethe sold at auction for unexpected $23,300

An abstract artwork by Denmark's Queen Margrethe, who shocked her nation by abdicating earlier this year, brought 160,000 kroner ($23,300) at auction in Copenhagen, above the projected price range of 75,000–100,000 ($11,000–14,550).  

The 83-year-old queen is well-known for her artistic creations, and several of her paintings have been on display in Danish and foreign institutions.  

The 1998 acrylic artwork, which had a starting bid of 45,000 kroner ($6,550), was sold to an unidentified buyer at Denmark's largest auction house late on Tuesday. The family owned the picture, which had been a gift to a former assistant who passed away in 1989.  

The works by Margrethe who also has designed ballet costumes and sets, church vestments and dinnerware, and made book illustrations, are rarely put up for sale, said Niels Boe-Hauggaard of the Bruun Rasmussen Auction House. 

"The queen’s recent abdication may also have given the painting an extra layer to its history,” he added in a statement. 

On New Year's Eve, Margrethe announced she would be stepping down, citing health issues. Her declaration stunned a nation that had expected her to live out her days on the throne, as is the tradition in the Danish monarchy. 

On Jan 14. Margrethe became the first Danish monarch to voluntarily relinquish the throne in nearly 900 years. Her son ascended the throne as King Frederik X after she formally signed her abdication. 

Margrethe had undergone major back surgery in February 2023 and didn’t return to work until April. 

Denmark’s monarchy traces its origins to 10th-century Viking king Gorm the Old, making it the oldest in Europe and one of the oldest in the world. Today the royal family’s duties are largely ceremonial. 

Tuesday's auction was not the first time a painting by Margrethe has gone under the hammer. In 2021, the same auction house sold one of her works for 230,000 kroner ($33,500).