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A extraordinary Botticelli portrait might fetch $80 million contained Sotheby\’s auction

An ultra-rare portrait from the famed Italian painter Sandro Botticelli can fetch $80 million or even a lot more when it comes set up for sale at giving Sotheby’s on Thursday, by You.

The auction marks the initial big test of the art market this year, as well as the willingness of worldwide collectors to spend eight or nine figures for trophy works during the health crisis and market volatility. If it does well, it may possibly help boost the standing as well as prices for Old Master paintings at a time when most of big money in the art industry is chasing newer, flashier works coming from contemporary and post-war artists.

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

The Botticelli painting, known as “Young Man Holding a Roundel,” is thought to enjoy been painted approximately 1480. It’s one of about a dozen portraits linked to Botticelli and one of merely a handful in private hands.

The seller is reported to be the estate of the late property billionaire Sheldon Solow, whom got the piece in 1982 for $1.2 million.

To promote the job during the pandemic, Sotheby’s viewable the painting all over the world to collectors and potential bidders.

“The young man of the painting has completed more travel during Covid than probably anybody we know,” Stewart claimed.

Botticelli is most famous for “Birth of Venus,” which portrays the Roman goddess appearing out of a seashell. The previous record for his job was the 2013 marketing of Child and “madonna with Young Saint John the Baptist” for $10.4 huge number of.

The work is going to be a portion of Sotheby’s “Master Paintings & Sculpture” selling on Thursday.