Sotheby’s in New York auctioned off a 15th-century masterpiece, the Botticelli painting “Young Man Holding a Roundel,” smashing the record price for the artist. The painting that has been shown in leading museums worldwide over the past decades was valued at about €66 million ($80 million). Sotheby’s said the final price, including fees and commissions, was $92.2 million after it sold under the hammer for $80 million, Deutsche Welle (DW) wrote.
An ultra-rare portrait by the famed Italian painter Sandro Botticelli, called “Young Man Holding a Roundel,” could fetch $80 million or more when it comes up for sale at Sotheby’s on Thursday. Sotheby’s said the final price, including fees and commissions, was $92.2 million after it sold under the hammer for $80 million.
The auction marks the first big test of the art market this year. A successful auction could boost the reputation and prices for Old Master paintings.
The auction marks the first big test of the art market this year, as well as the willingness of global collectors to pay eight or nine figures for trophy works during the health crisis and market volatility. If it does well, it may help boost the reputation and prices for Old Master paintings at a time when most of big money in the art world is chasing newer, flashier works from post-war and contemporary artists. “There is an engaged global audience and interest in this painting,” said Charles Stewart, CEO of Sotheby’s.
The Botticelli painting, called “Young Man Holding a Roundel,” is believed to have been painted around 1480. It is one of about a dozen portraits attributed to Botticelli and one of only a handful in private hands. The seller is reported to be the estate of the late property billionaire Sheldon Solow, who bought the piece in 1982 for $1.2 million.
Source: part of the article published by CNBC, link: https://www.cnbc.com/2021/01/27/a-rare-botticelli-portrait-could-fetch-80-million-in-sothebys-auction-.html. Published on January 28, 2021. Please read the updated and complete article on the already indicated link of CNBC. Thank you very much. Republished by Intell News Romania in English on January 30, 2021
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