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

An ultra-rare portrait by the infamous Italian painter Sandro Botticelli could gain $80 million or more when it comes up for sale at Sotheby’s on Thursday.

The auction marks the first substantial take a look at of the art market this yr, to boot to the willingness of global collectors to pay eight or 9 figures for trophy works all the arrangement thru the health disaster and market volatility. If it does effectively, it will also merely assist enhance the recognition and costs for Veteran Master art work at a time when most of considerable money in the art world is chasing more moderen, flashier works from put up-war and up-to-the-minute artists.

“There is an engaged global audience and pastime in this painting,” mentioned Charles Stewart, CEO of Sotheby’s.

The Botticelli painting, called “Young Man Holding a Roundel,” is believed to contain been painted round 1480. It is one in all a couple of dozen portraits attributed to Botticelli and one in all pleasant a handful in personal fingers.

The seller is reported to be the estate of the slack property billionaire Sheldon Solow, who sold the piece in 1982 for $1.2 million.

To market the work all the arrangement thru the pandemic, Sotheby’s displayed the painting across the arena to collectors and doable bidders.

“The young man in the painting has accomplished more shuttle all the arrangement thru Covid than potentially any individual all of us know,” Stewart mentioned.

Botticelli is most famed for “Birth of Venus,” which portrays the Roman goddess emerging from a seashell. The previous file for his work used to be the 2013 sale of “Madonna and Petite one with Young Saint John the Baptist” for $10.4 million.

The work would possibly be share of Sotheby’s “Master Art work & Sculpture” sale on Thursday.