A rare Botticelli portrait might fetch $80 million in Sotheby\’s auction

An ultra rare portrait by the famed Italian painter Sandro Botticelli might fetch $80 million or a lot more in regards set up for sale at giving Sotheby’s on Thursday, by You.

The auction represents the first big test of the art industry this year, as well as the willingness of worldwide collectors to shell out eight or maybe nine figures for trophy works while in the health crisis as well as market volatility. If it does nicely, it might help increase the track record and rates for Old Master paintings within a point in time when most of lots of money in the art world is actually chasing newer, flashier works from post-war and contemporary artists.

“There is an involved worldwide audience and interest in this painting,” said Charles Stewart, CEO of Sotheby’s.

The Botticelli painting, referred to as “Young Man Holding a Roundel,” is actually believed to enjoy been painted around 1480. It is one of about a dozen portraits attributed to Botticelli and one particular of only a few in private hands.

The seller is actually claimed to become the estate of the late property billionaire Sheldon Solow, whom got the portion found in 1982 for $1.2 million.

To market the work during the pandemic, Sotheby’s shown the painting all over the world to collectors and possible bidders.

“The young man in the painting has done more travel during Covid than probably anyone we know,” Stewart claimed.

Botticelli is most known for “Birth of Venus,” which portrays the Roman goddess emerging out of a seashell. The previous record for his job was the 2013 selling of “madonna as well as Youngster with Young Saint John the Baptist” for $10.4 million.

The work will be part of Sotheby’s “Master Paintings & Sculpture” marketing on Thursday.

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