Lady chapman

Godfrey Kneller

Oil on canvas

London 1721

In the early 18th century, the South Sea Company was the talk of the town. Founded in 1711, it was granted a monopoly to trade with Spanish America, which promised huge potential profits. The stock soared and speculation ran rampant. Many members of the aristocracy and middle classes invested heavily, including the Chapmans.

It was against this backdrop that Godfrey Kneller, the leading portrait painter of his time, has captured the image of Lady Chapman in a moment of elegance. She is seated draped in a white satin dress that cascades around her, the delicate fabric creating subtle folds and curves. Her right hand gracefully holds a small bunch of flowers, as she delicately rests an orange, a symbol of wealth and luxury in the 18th century. The painting is thought to have been paired with her husband's portrait, also by Kneller. The couple's association with the South Sea Company, where Mr. Chapman was a director, would have added to their prominence and made them ideal clients for such a things.

As the South Sea Bubble burst in 1720, many investors were left ruined, but not the the Chapman family. The painting of Lady Chapman, signed and dated 1721 (the year the couple were ennobled), now serves as a reminder of the heady days of speculation and the inevitable financial crash that followed. It was sold by Dorothy de Rothschild at Christie's in 1971, evidence of its significance.

• Provenance Dorothy Rothschild

• Baronet Werner

• Private Collection USA

• Private Collection UK