Botticelli portrait of young man with a roundel sets new record 

The work is the second most expensive old master painting ever sold at auction, writes Des O'Sullivan

Sandro Botticelli's 15th-century painting called "Young Man Holding a Roundel" is displayed at Sotheby's. (AP Photo/Seth Wenig)

THE times are continuing to change as the online auction format is becoming mainstream at all levels of the market. In New York Botticelli's Portrait of a Young Man Holding a Roundel has become the second artwork to have surpassed $80 million at auction since Sotheby's pioneered a new live-streamed format last summer.

Francis Bacon's 'Triptych Inspired by the Oresteia of Aeschylus'.