What was the value of 1600 guilders in the 17th century?
In 1642 a skilled labourer on average earned around 20 'stuivers' or one guilder a day; resulting in an annual income of around 300 guilders. The price of the Nachtwacht therefore was equal to 5 1/3 times an annual salary. When compared to present day average salary of the Dutch version of John Doe (EUR 33,000 gross) a commission like the Nachtwacht in present day would fetch EUR 176,000.

If one sees the Nachtwacht as a promotional article of a group of 16 – mostly - entrepreneurs (many of the militiamen or 'Schutters' had their own companies) spending EUR 11,000 a head does not seem outrageous.

Did Rembrandt ask to little money for his work?

Relating 1600 guilders to the size of Rembrandt's business around 1642.

Based on the earlier mentioned research the size of Rembrandts business has been estimated at approx. 6000 guilders annually in the period that he produced the Nachtwacht. Rembrandt derived this income from various sources; tuition fees, prints, autograph paintings and paintings by his 'gesellen' (assistants). Together this made up for the total of approx. 6000 guilders. The Nachtwacht therefore was – not surprisingly – a big commission for Rembrandt; as it accounted for 25% of his annual sales.

Painting for a price

However, compared to the size of the painting, the revenue per square cm is not as profitable as one might think. A large scale 'ten voeten uit' portrait of Andries de Graeff (1639) was priced at 500 guilders. The dimensions of this portrait are 200 cm x 124 cm. Other examples include a double portrait of Cornelis Claesz Anslo and his wife (1641, 176 x 210cm), also priced at 500 guilders.

When the size of Anslo's double portrait is compared to that of the – original (440 x 500 cm) – size of the Nachtwacht, the Nachtwacht should have been priced around 6 times the double portrait of Anslo, 3000 guilders therefore. When compared to De Graeff's portrait Rembrandt even should have quoted the militiamen almost 4500 guilders or around 300 guilders each.

Therefore, relatively speaking the Nachtwacht was a factor 2 to 3 to cheap!

Couldn't the businessman Rembrandt have made a better deal?