A painting by Italian Renaissance master Sandro Botticelli could fetch over $80 million when it goes under the hammer in New York in January, Sotheby's said Thursday -- a record auction price for the artist.

"Young Man Holding a Roundel" has been billed by the auction house as one of the greatest paintings from the era still in private hands. It is expected to smash the $10.4 million auction record set seven years ago for a painting by the Florence native.