Titian painting has antiques valuation of $15m-$20m
The piece was painted in 1560.
A painting by Titian has had an antiques valuation of between $15 million (£9.37 million) and $20 million placed on it.
The piece - entitled A Sacra Conversazione: The Madonna and Child with Saints Luke and Catherine of Alexandria - is set to go under the hammer at a Sotheby's auction in New York on January 27th 2011.
According to the auctioneer, the piece - which was created in 1560 - is one of a handful of multi-figure compositions by the 16th century artist still in the hands of private collectors and is reported to be the most important to appear at auction since 1991.
Sotheby's said: "The painting has a remarkable provenance - during the almost half millennium since it was painted it has only changed hands five times."
This comes after a work of art by LS Lowry was given an antiques valuation of between £250,000 and £350,000 before it goes up for sale on November 11th at Christie's in London.
Posted by Keith Leicester