An ultra-rare portrait from the famed Italian painter Sandro Botticelli could fetch $80 million or perhaps more when it comes in place for sale at Sotheby’s on Thursday, by You.

The auction signifies the first major test of the art industry this season, in addition to the willingness of global collectors to shell out 8 or 9 figures for trophy works during the health crisis and market volatility. If it does very well, it may help boost the standing and charges for Old Master paintings within a time when most of lots of money in the art world is actually chasing newer, flashier succeeds from post-war and contemporary artists.

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

The Botticelli painting, known as “Young Man Holding a Roundel,” is actually thought to experience been painted roughly 1480. It is one of roughly a dozen portraits linked to Botticelli and one particular of just a few in private hands.

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

To promote the labor during the pandemic, Sotheby’s displayed the painting all over the world to collectors as well as potential bidders.

“The young male in the painting has completed more travel during Covid than most likely anybody we know,” Stewart claimed.

Botticelli is most recognized for “Birth of Venus,” that portrays the Roman goddess appearing from a seashell. The previous record for the job of his was the 2013 sale of “madonna and Kid with Young Saint John the Baptist” for $10.4 million.

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