The artwork sold at auction set a new record, reflecting the rarity of documented paper works by Michelangelo, as well as the fierce competition in their bidding. The auction house also noted that most of Michelangelo's surviving drawings are preserved in museum collections, meaning opportunities for private collectors to acquire them are extremely limited. A drawing by Michelangelo depicting a study of a foot was sold for $27 million at a public auction, setting one of the highest prices ever achieved for the works of the great Renaissance artist. According to the 'Dixitro' website, the drawing is believed to be a preparatory study related to the design process of the Sistine Chapel ceiling. According to a press release from Christie's auction house, the rediscovered painting, attributed to Michelangelo after extensive research, was sold for $27.2 million, nearly 20 times its lowest estimated price. Christie's explained that the drawing was not previously known as an original work by Michelangelo until it was re-attributed to him.
