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A late Botticelli and a portrait of Princess Diana give the art market a much-needed shot in the arm
Sotheby’s staged a series of Old Master sales in New York last week that brought an anticipated $109 million (£82 million), providing a shot in the arm for the market. Its main sale brought $91 million (£68 million), compared to London’s more pedestrian £19 million equivalent sale in December. The star lot, a portrait of a thorn-crowned Christ by Botticelli dating from around 1500, was bought by the vendor for £10,000 in the 1960s when it was thought to be a joint effort by Botticelli and his workshop.