"St George and the Dragon" is a supremely beautiful painting. It is an exquisitely rendered vision of a universal tale of good and evil. And it is also an example of how art witnesses and participates in the ebb and flow of world power. For its artist, "Raphael" the painting represented a crucial step in his ascent to the peak of the Renaissance art world and for a succession of jealous owners it was the ultimate symbol of power and prestige. Painted for a young Henry VII the painting then played a crucial part in the diplomatic intrigues in Henry VIII's rumbustious court. After Charles I's execution it moved through France into the gathering power and purchases of Catherine the Great and her Hermitage. It is a small work of art and during the Russian Revolution its vulnerability was perilous - it was shunted around Russia as war raged until, in an utterly dodgy transaction it was sold by Stalin to the US Treasury Secretary. Into the grips of a new world power. Within this perfectly rendered painting stories of greed and warfare can be traced, in its history the changing centres of world dominance can be seen and in the way its beauty has been traded the intricate connections between high culture and money and power can be disentangled. This small work of art is a repository of the very story of Western civilisation and Joanna Pitman is an author of considerable acclaim and great skill. This is a fantastic piece of literature - history at its most fascinating - storytelling at its finest.

Raphael's "St. George and the Dragon" is the work of a genius -- an exquisitely rendered vision of heroism and innocence by one of the greatest painters of all time. Yet the painting's creation is only the beginning of its fascinating story, which spans centuries of power play and intrigue, and has made it a witness to the rise and fall of the great powers of the Western world as it seduced its owners to ever greater heights of corruption and greed.

Raphael's masterpiece was commissioned by Duke Guidobaldo da Montefeltro, the ruler of Urbino, in 1506. Raphael was only twenty-three years old, but he had already begun to acquire a reputation as a painter who was as ruthless in his pursuit of money as he was talented. The duke sent the painting to England's King Henry VII as a thank-you for naming him a knight in the Order of the Garter.

The painting then mysteriously disappeared for one hundred years until King Charles I saw it hanging in the collection of the Earl of Pembroke and acquired it for a book of Holbein drawings. After Charles was beheaded in 1649, his collection was broken up and the painting made its way to the private gallery of the third-richest man in France, where it was ensconced in its own special room. Thirty years later, the philosopher Diderot was instructed by Catherine the Great of Russia to buy it for her vast collection at the Hermitage.

The heroic curators of the Hermitage protected "St. George and the Dragon" from fire, water, and the anarchists of the Russian Revolution, until Joseph Stalin sold it in 1930 to raise cash. The secret buyer was Andrew Mellon, Treasury Secretary of the United States, who in doing so blatantly violated a U.S. sanction against doing any business with Soviet Russia. Mellon eventually founded The National Gallery in Washington, D.C., where "St. George and the Dragon" rests to this day.

Exceptionally written and breathlessly paced, "The Dragon's Trail" is a microhistory that touches on the rise of the Tudors, the downfall of a Stuart, the twilight of the French aristocracy, the terrors of the Bolshevik revolution, and the depths of the Cold War -- all witnessed by one painting that inspired the best and the worst instincts in its owners.