Lost Michelangelo Draws $27 Million, Trouncing Estimate and Smashing Record

"The curious but unsuspecting owner had just submitted a major discovery: a previously unknown study by Michelangelo for his world-famous frescoes in the Sistine Chapel. Damen identified the work in red chalk as a preparation for the right foot of the monumental figure of the "Libyan Sibyl," which is located at the far east end of the Sistine ceiling. According to Christie's, Michelangelo created the study around 1511-12 just before he embarked on the second half of the massive mural."

"Now, that work has set a new record as the most expensive drawing by the Renaissance artist, clobbering expectations when it sold for $27.2 million with premium on Thursday afternoon. Estimated at $1.5 to $2 million, a heated bidding war lasted for about 45 minutes, starting at $1.4 million and climbing steadily upwards. The drawing, which is a previously unknown study by the artist for his world-famous frescoes in the Sistine chapel was hammered down for $23.1 million."

"According to Damen, Red-chalk study for foot of the Libyan Sibyl is one of only about 10 Michelangelo drawings known to be in private hands. There is no accounting for the number of drawings the Old Master created, but only about 600 are believed to have survived, of which some 50 are related to his work on the Sistine Chapel."

Giada Damen of Christie's Old Master drawings department received an unsolicited photograph that turned out to be a previously unknown red-chalk study by Michelangelo for the right foot of the Libyan Sibyl on the Sistine ceiling. Michelangelo likely executed the study around 1511–12 before tackling the second half of the ceiling. The drawing sold at Christie's for $27.2 million with buyer's premium after a 45-minute bidding contest that began at $1.4 million; it had been estimated at $1.5–2 million and hammered at $23.1 million. About ten Michelangelo drawings remain in private hands; roughly 600 survive, some 50 linked to the Sistine. The work was consigned anonymously by a West Coast heir.

Read at Artnet News