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Posted on Feb 01, 03:14PM | IANS
New York, Feb 1 : Jose Francisco de Goya's portrait of his grandson went unsold Thursday in an auction of works by Old Masters at Sotheby's New York.
The highest bid for "Portrait of Mariano Goya", was USD 5.5 million, short of the undisclosed reserve price.
The piece, painted in 1827 by an 81-year-old Goya, was expected to sell for USD 6 million to USD 8 million.
Not seen in public for 60 years, the painting was the "most beautiful" of the works on sale Thursday, Sotheby's Christopher Apostle told EFE, adding that the piece's "sensitivity and simplicity" reflect the character of Goya.
This is not the first time an important Goya painting has failed to sell at auction. The "Portrait of Juan Lopez de Robredo" found no takers in a late 2011 sale at Christie's in London.
The current record price for a Goya work was set in 1992, when "Suerte de Varas" sold for USD 7.9 million at Sotheby's New York.