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The piece shows a man in his late teenage years with long golden hair sitting holding a disc featuring a bearded saint.
The roundel, which depicts the saint with his right hand raised, is an original 14th-century artwork attributed to Sienese painter Bartolommeo Bulgarini.
Art historians suspect the Botticelli depicts a nobleman proudly showing off the earlier artwork.
Botticelli: The 'little barrel' who painted The Birth of Venus
Florentine painter Sandro Botticelli
Sandro Botticelli was born Alessandro di Mariano Filipepi, the son of a tanner.
He became known as Botticelli - which translates to 'little barrel' - and was raised by his brother in Florence where he lived his entire life.