Why Rembrandt Declared Bankruptcy

Despite charging high prices for his portraits, Rembrandt van Rijn was forced to declare bankruptcy in 1656.

Rembrandt van Rijn, Self Portrait, 1658

Part of the problem was that he often failed to receive payment, which contributed to his financial troubles.

But he lost his fortune primarily by spending too much on rare and costly things, including musical instruments, weapons, paintings (including his own), prints, animal specimens, shells, corals, and plaster busts.