Blue-chip artists move over, here come the red chips
Hot properties like Amy Sherald’s The Bathers (2015) are favourites for new billionaire buyers © Amy Sherald This month, Sotheby’s will be offering what it describes as the “ultimate Renaissance portrait” in its annual sale of high-value Old Masters in New York. It hopes this $80m-plus work will reinvigorate top-end demand in a market that since March has been battered by the fallout from the Covid-19 pandemic. According to Bloomberg News, Sandro Botticelli’s Young Man Holding a Roundel is owned by a tax-minimising foundation set up by the billionaire New York...
Source: theartnewspaper.com