At least, it is listed like that on Invaluable, the Isbilya website jumps from lot 18 to lot 20 without any explanation, so perhaps this is withdrawn?
Anyway, it is interesting enough to be discussed here even if it isn't for sale right now.
The work seems to be related to the works of the Master of the Tiburtyn Sibyl, as seen here at RKD. But the execution is harder, with brighter, more primary clours, more archaic use of gold, and an almost woodcut-like feeling.
Master of the Salem Altar
I wonder if this isn't a German work, ca. 1480-1500 (so somewhat earlier than the auction catalogue suggested)? The pose of the figures, executed somewhat more childish than usual in early Flemish works (and foreshadowing the Antwerp Mannerism of some 20 yaers later) certainly points in that direction.Then again, a Spanish work like this one by the Master of Budapest also shares some aspects (in general, but also e.g. the decorated dress of Mary), and as this is an auction in Spain, perhaps it is better to look for a Spanish Master of this style?
Or a Hungarian one ;-) This is the 1470s painting from the Altar of Jánosrét, in Hungary, said to be Hungarian but influenced by Early Netherlandish, Flemish painting.
All in all, it is hard to pinpoint a region (though I would go for Germany, due to the woodcut-aspects), but the period seems to be late 15th century, more likely than the 16th century.
If it genuinely is a work of that period, it should be worth the estimate, as it looks to be in good condition.
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