A New Raphael

"It struck me that it was mounted in an enormous, elaborately carved gilded frame of a very high value, which didn't seem to fit with something that was meant to be an unimportant copy," he said. "Clearly, whoever chose the frame knew who the real painter was and the true value of the work."

To test the theory, he had the painting analysed by experts at a research institute in Pisa.

Using infra-red and ultraviolet ray "multilayer" technology, they were able to see through accumulated layers of paint.

The institute's Lisa Venerosi Pesciolini, one of Italy's most respected art restorers, said: "Underneath the layers, it was possible to see the original painting. This is an extremely important find."

Mr Scalini, acting supervisor of fine arts for the provinces of Modena and Reggio Emilia in northern Italy, said: "The results of the investigation allow us to assert with reasonable certainty that the work was painted by Raphael." It is thought the portrait was started by Raphael, but finished by one of his most prominent pupils, Giulio Romano, after Raphael's death in 1520.