Schiele's Danaë Returns to Auction at Sotheby's London

Egon Schiele's 1909 painting Danaë, withdrawn from a Sotheby's New York sale in 2017, will be auctioned at Sotheby's London on June 24 with a reduced estimate of £12 million–£18 million ($16 million–$24 million), a 60% decrease from its previous $30 million–$40 million estimate. The work is part of the Lewis Collection, owned by billionaire Joe Lewis, who also owns Tottenham Hotspur football club. The collection of 48 works is expected to fetch £200 million ($268 million), potentially becoming the most expensive single-owner collection ever offered in Europe. In 2017, Paris dealer Christian Ogier commented that the painting was better suited to Klimt than Schiele. According to the Artnet Price Database, 22 Schiele works have been offered at auction this year, with 62% selling above their high estimates.