A BULLISH BEAR MARKET

In an ironic sign that the art market emerged from the pandemic stronger than ever, a drawing of a bear by Leonardo da Vinci is expected to set a record when it goes up for auction this summer. “Head of a Bear,” which measures 7 centimeters (a little under 3 inches) square, is one of eight remaining Leonardo drawings in private hands and has been in the collection of its current owner since 2008. The drawing, which goes on sale at Christie’s on July 8, previously sold at the auction house in 1860 for £2.50—or around $440 today. The price will be just a little higher this time around. Curators at

Christie’s believe “Head of a Bear” will roar past the record set by Leonardo’s “Horse and Rider” sketch (which sold for $11.2 million in 2001), with a presale estimate

of $16 million.