The Renaissance painting "The Madonna and Child" was sold for 685 thousand pounds ($ 897 thousand) at the JS Fine Art auction house in Banbury, The Times newspaper reports. Before that, it had been stored in the previous owner's garage for several years. The auction lasted 15 minutes.
The painting is by the Italian artist Pietro Vannucci, better known as Perugino (1450-1523). Perugino is considered one of the most influential artists of the Renaissance and was once compared to Leonardo da Vinci.
The new owner of the painting, an anonymous private collector, was transferred to an art restoration specialist.
The auction set a new record for JS Fine Art: the previous highest sale was 265 thousand pounds.