$325 Painting Sells At $37.3m

A painting by Italian Renaissance artist Raphael has sold for more than 18 million pounds (37.3 million dollars) at art auction at Christie's in London. Christie's Friday described the painting, a portrait of Florentine ruler Lorenzo de Medici, as the most important Renaissance portrait to be sold at auction for a generation. The art sale broke the record for a price paid for a work by Raphael. The previous highest price was 5.3 million pounds in 1996 for Study for the Head and Hand of an Apostle, a drawing in black crayon, Christie's said. The painting had not been seen in public since 1968. When it was last sold, the art world was divided over its origins and it sold for just 325 dollars. But experts now agree it is genuine - Christie's auctioneers describing it as the most important Renaissance portrait to be sold at art auction for a generation. (For full source and article click the Headline). Irish Art