Because it is so special to you consider having it re-matted and framed to improve the dimensions and scale. As is, the frame is too heavy and the mat isn't properly proportioned, the bottom should be larger than the top. A reputable framer can make it work with the colors in the art and then you can feature it above the fireplace. It's wonderful that you can have something "old" in your new home!

I would mount a picture light over it to highlight it, instead of sconces. Once you have it mounted, about 6 inches above the mantle, it will be great. Be careful with choosing a gray wall color - it looks like your floors and fireplace tiles are warm tones.

Agree- have always considered the picture matte to be the wrong size for the frame and we should consider choosing a thinner frame (the matte sort of goes with the picture as it is original and faded and connected with the image though that is hard to see in the photograph). If we do that the picture will get smaller though . . .

Also you are right about choosing a warm paint color - greige instead of a cool grey. Our tiles are grey/white with a beige grout. Perhaps Benjamin Moore's Wish AF-680? You can see we are narrowing down from a bunch of swatches on the wall :). And the previous owners' gold paint doesn't help the tone of the room currently...

I never thought of a light above the picture. That would certainly help in the vertical dimension. Would I still need to worry about the width of the artwork being too narrow for the space?

Thanks so much for your advice so far!!!

adding sconces that are hardwired is no small feat, or cost. Is that a two story? Dropping wires down from the attic and drilling through some studs and fire blocking isn't as bad as ripping out the drywall around the fireplace in order to hook up the electrical. You could be looking at anywhere between 500-2K (unless you can do it yourself).

A larger picture than what you have currently and a different paint color would do wonders.

Hahaha my husband just walked in and he says we have a light over the pic already- he's right! :)

the picture won't be smaller with a thinner frame because the mat will be larger, preferably a double mat.

I see what you mean about the frame. But I meant to say that the matte is original and I prefer to keep it, so then the frame would have to be smaller, no? You are so nice for your comments, thank you!

And we do have a two story. Cost is something to consider. But if we have to find new artwork I feel that might be more difficult for us. . .

What if u Just put candles on the mantle next to each side of the picture n something in between those?

I don't know... lol. But I'm curious what exactly is the picture?

Are there battery powered sconces? Or are those not really available anywhere. Seems like I can't find them easily.

I don,t think sconces would help the situation, I would reframe the pic and hang it a few inches above the mantle, it will be fine. I would replace the matte however, the original is imo not worth keeping.

I can't stress enough how important it is to have the print re-matted now that I know that it is original. Old mats are not made of acid free paper and cause deterioration where they touch the art. You will see the harm when the old mat is revealed. Make sure that you specify an acid free mat!!! the framer will make the new mat a tiny bit smaller around the opening to hid the paper damage. If you cherish the art fix it and enjoy it now and forever.

I actually do think sconces would look nice if you keep the picture the same size as it is. Mounted above the fireplace with sconces in line with the frame could be really nice

Thank you all so much, I really value your input.

The artwork is sort of part of the matte- it is already attached (glued?) and it is not a true matte but a paper. I am sure as you say it is not acid-free but I don't think I can separate it... I should ask the framer their opinion.

My husband now says, after looking at pics of sconces over fireplaces on Houzz, that he feels they look "old." So he prefers to either get new artwork or change frames. Maybe if it is so costly to wire sconces we should just invest in a new custom frame and then we won't have to put holes in the walls...

At any rate I think we are going to hold off on sconces and go ahead and paint, then talk to some framers before making a decision. Thanks again everyone!

First priority would be to have it reframed. Then revisit placement and sconces. If you still think the fireplace needs something elose, I think candle sconces would be just as nice as hardwired.

Take the piece to a good fine art framer and they will tell exactly what you should or should not do

You could do more recessed can lighting.

Hang the picture a few inches above the mantel and balance it with a few accessories. It just looks lonely by itself. Try accessorizing with things you have or find a couple of items that relate to the subject of the picture to accent the theme.