Meanwhile, rival auction house Christie’s is banking on several Basquiat paintings to draw in art lovers.
More than five centuries separate the two artists, but both will be among the stars of winter’s cultural calendar.
“The Man of Sorrows” was painted in Botticelli’s later period, in the late 15th or early 16th century. When creating this portrait of Christ resurrected, the Italian artist adopted a style steeped in Christian symbolism and spirituality.
Indeed, at the time, he was greatly influenced by the fanatical Dominican friar, Girolamo Savonarola.
While Botticelli’s paintings are extremely rare on the market, those from his later period are even rarer. “The Man of Sorrows” is no exception. During the 19th century, it belonged to a British opera singer, before being sold at auction by her granddaughter in 1963.
Since then it has remained in the same private collection, leaving it momentarily for a few months in 2009 to feature in a major Botticelli retrospective at the Städel Museum in Frankfurt.
Christie’s estimates that “The Man of Sorrows” could fetch more than US$40 million (RM167 million) at auction.
Bids, however, could quickly rise, given the popularity of Botticelli’s paintings on the market. One of them, “Young Man holding a Roundel,” sold in January for US$92.2 million at Sotheby’s, a record for the Italian master.
‘Basquiat mania’
For its part, Christie’s is betting on “Basquiat mania” to draw the crowds at its “20th and 21st Century Art Evening Sale” in December, where “Donut Revenge” goes under the hammer.
Jean-Michel Basquiat made this large-format painting in 1982, a pivotal year, in which the artist said he “made the best paintings ever”.
These works are highly popular among collectors, who are often ready to spend astronomical sums to acquire them. One collector paid HK$323.6 million (about RM175 million) for “Warrior” at a Christie’s auction last March, making this Basquiat painting the most expensive Western artwork ever sold at auction in Asia.
“Donut Revenge” could see similar success when it goes up for auction on Dec 1, estimated at between HK$140 million and HK$190 million. Such sums underscore the auction house’s desire to “bring the artist’s legacy to Asia”, according to Elaine Holt of Christie’s Asia Pacific.
“Basquiat’s impact and appeal transcends time and geography,” she commented. “We are delighted to offer such a significant work in our Hong Kong Evening Sale and are committed to presenting the most significant artworks by the artist here in Asia.”