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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 property developer Sheldon Solow, who died in November. He bought the painting in 1982 for around $1.3m. ....

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