Michelangelo painting sold to Chinese recycling company
A Chinese company which used to focus on recycling has spent $75 million buying a Michelangelo.
Yulong Eco-Materials, which until recently was focused on recycling bricks and concrete, announced earlier this week that it had bought a depiction of the Crucifixion of Jesus Christ by Michelangelo.
The company now says it wants to focus on collecting art, abandoning its recycling business.
It had previously bought a 61,500-carat gem known as the “Millennium Sapphire” in October for around $50 million.
Business Insider