Portrait by Botticelli sells for $92.2 million at Sotheby’s

Portrait by Botticelli sells for $92.2 million at Sotheby’s On January 28, 2021, Sandro Botticelli’s ‘Young Man Holding a Roundel’ (one of the most significant portraits, of any period, ever to appear at auction) sold at Sotheby’s for a record $92.2 million.

January 29, 2021. Source: Sotheby’s

In a sale that marks the first major auction event of 2021, Botticelli’s “Young Man Holding a Roundel” saw transatlantic bidding between Sotheby’s representatives in New York and London, with the ultimate under-bidder bidding on behalf of an Asian collector. Just one of three portraits left in private hands by this leading artist of the Italian Renaissance, known to many for his famous “Primavera” and “Birth of Venus”, the painting had attracted pre-sale interest from institutional and private buyers alike. The price achieved today makes it not only one of the most valuable portraits of any era ever sold, but also the second most valuable Old Master painting ever sold auction.

Christopher Apostle, Head of Sotheby’s Old Masters Painting Department, New York, said: “This is not only an exceptional painting, it is also the epitome of beauty, and of a moment when so much of our Western civilization began. Today’s result is a fitting tribute, both to the painting itself and all that it represents.”

George Wachter, Sotheby’s Co-Chairman of Old Master Paintings Worldwide, added: “As fresh today as when he was painted 550 years ago, Botticelli’s Young Man has cast his spell over everyone who has seen him. While the price achieved is the second highest ever for an Old Master Painting, this is a work that transcends time and categories. Now we really do know the price of beauty.”

Rembrandt van Rijn’s small but desirable “Abraham and the Angels”, estimated at $20m-$30m, was one of 4 works withdrawn just minutes before the sale. Hugo van der Goes’ “The descent from the cross” was sold for $3,3 million against an estimate of $3-5 million. A true bargain considering that works by this important master very rarely appear on the market.