In "Norrström med Bondeska palatset, Stockholm" by Elias Martin, we see the grand façade of the House of Bonde Palace (Bondeska palatset) as it appeared in 1799. The building, which was completed the year before, was constructed by the privy councillor and lord marshal Count Carl Bonde af Björnö (1741–1791) and was intended as his Stockholm city residence. The Bondeska palatset occupied most of the southern part of the Rosenbad block.

The painting at auction evokes thoughts of Venice and Italian veduta painters. Like a Canaletto, Elias Martin places the water surface at the centre. The mighty palace building reflects in the water from the side, and Martin employs linear perspective to direct our gaze towards the small island of Strömsborg in Norrström. Here, there were restaurants, bathhouses, and bowling alleys, but no bridge connection. Instead, the boats of the rowers glide back and forth over the water like the gondolas of Venice. A festively dressed party from the palace is on their way down to the skiff that will take them across the water for the evening's events. Merchants travel back and forth with their goods, and at the palace's quay, laundresses are working with the day's laundry. There is bustling activity, but the only sounds conjured in the viewer's imagination are the lapping of the waves, the clatter of horse hooves, and conversations and calls. It would be many years before the brdges Västerbron and Centralbron would surround Strömsborg with thundering traffic and the Rosenbad block would be developed.

The Bondeska Palace was inherited by his son Gustaf Trolle-Bonde the Elder (1773-1855), "the blind excellency." He was one of the most educated and cultured men of his time and was appointed chamberlain, court marshal, and chief courtier. In 1826, he was appointed one of the realm's lords with the title excellency, an honour established by Gustav III.

Gustaf Trolle-Bonde had a great interest in art and literature, which was reflected in the flourishing period that prevailed during his time at Säfstaholm Castle. He renovated and renewed the castle and the surrounding park according to the ideals of Neoclassicism and Romanticism. Säfstaholm became his main residence and a centre for art, music, and literature during the first half of the 19th century. His social circle included many of the prominent personalities of the time.

In the summer of 1797, Elias Martin visited Säfstaholm. He was then at the height of his career and had been a professor at the Royal Academy of Fine Arts for ten years. He shared many interests with his host, including a passion for English culture and architecture. During that summer, Trolle-Bonde purchased two works by Martin, which marked the beginning of a private art collection without parallel in Swedish history. The following year, Martin executed the painting "Norrström with the Bondeska Palace, Stockholm."

The excellency made a large number of acquisitions for the growing art collection – through commissions, auctions, and intermediaries. He was also a generous patron, and many of the artists of the time were in close contact with him. At the age of 58, he became blind. Despite seeking help from Europe's most prominent eye doctors, all attempts were in vain, and he adapted his life accordingly.

At Gustaf Trolle-Bonde's death in 1855, the art collection amounted to nearly 200 works, roughly evenly divided between Swedish and foreign paintings. Since there were no children, Säfstaholm, Katrineholm, Herrestad, Bordsjö, Askeryd, and Trolleholm passed to his nephew Gustaf Trolle-Bonde the Younger (1802-1884). Trolle-Bonde the Younger was also very interested in art and continued in his uncle's spirit as a patron and art collector. He was, among other things, an honorary member of the Royal Academy of Fine Arts from 1871 and chairman of the Stockholm Art Association. Through inheritances and sales, the original Säfstaholm collection, including works from the Bondeska Palace, has since been dispersed.

At the end of October 1898, the demolition of the Bondeska palatset began to make way for the new building, named Rosenbad, built for Nordiska Kreditbanken after designs by Ferdinand Boberg. Today, Rosenbad serves as the seat of the Swedish government. The Bondeska palatset is remembered through a commemorative plaque on Rosenbad, at the corner facing Riksbron.