A monumental Francesco Guardi painting of Venice’s Rialto Bridge sold in London last Wednesday for almost £27 million ($43 million), the highest amount ever paid at auction for a work by the Italian artist.

“Venice, a view of the Rialto Bridge, Looking North, from the Fondamenta del Carbon” sparked a battle between two bidders at Sotheby's which sent the work to a final price of £26,697,250 ($42.8 million, 29.8 million euros).

The 1.15 by 2 metre painting, believed to be have been executed in the late 1760s, also set a record for the highest price paid for a Venetian view painting. The previous highest price for a Venetian view painting was set in 2005 when Guardi's contemporary Canaletto fetched £18.6m for Venice - The Grand Canal from Palazzo Balbi.