French Auction Record

A sculpture by 20th century artist Amedeo Modigliani sold at Christie's in Paris for $53 million including buyers premium. the Modigliani sold for 10 tens the low estimate and also set a record for a piece selling at auction in France. According to the article and Christie's, Modigliani was influenced by African sculpture when creating the piece. The sculpture, Tete (see image) is supposed to be one of the last by Modigliani in private hands.

Scott Reyburn of Bloomberg reports on the sale.

Christie’s International said it had expected Modigliani’s “Tete” to sell for between 4 million euros and 6 million euros at hammer price. The 2-foot-high (0.6 meter) modernist piece, influenced by African sculpture and the work of the artist’s mentor Constantin Brancusi, was one of the last Modigliani sculptures left in private hands, said Christie’s.

It had been in the collection of Gaston Levy, co-founder of the business that what would become the Monoprix supermarket chain, since 1927, said Christie’s. The anonymous buyer, making a telephone bid, beat one European and one U.S. bidder, said the auction house: 15 phones were registered to bid.

To read the full Bloomberg article, click HERE.