Raphael drawing fetches $47.8 million in auction

A Sotheby's employee adjusts a drawing by Raffaello Sanzio, otherwise known as Raphael called 'Head of an Apostle', a Renaissance masterwork, during a press viewing in London, Friday, Nov. 30, 2012. The drawing estimated at 10-15 million pounds (16-24 million US Dollars) will go on sale in the evening sale of Old Master Paintings and Drawings on Dec. 5 in London. (AP Photo/Kirsty Wigglesworth)One of the most significant drawings by Italian master Raphael in private hands sold for 29.7 million pounds ($47.8 million) in London Wednesday, smashing pre-sale estimates for the black chalk work.

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