A painting by Amedeo Modigliani fetched $170.4 million at an auction Monday, setting a world record for the artist and achieving the second highest price ever garnered for a work of art at auction.
"Reclining Nude'' was sold at Christie's in Manhattan after a protracted bidding battle to a buyer who wished to remain anonymous, according to the auction house.
Considered one of his best known works, the 1917-1918 painting nearly created a scandal when it was first exhibited in Paris. It depicts an unknown nude model reclining on a crimson couch and blue cushion.
The previous auction record for a Modigliani was $71 million.
Pablo Picasso's painting "Women of Algiers (Version O)'' set the record for the highest sum ever paid for an artwork at auction. It sold for $179.4 million at Christie's in May.
A Roy Lichtenstein painting not seen on the market for 20 years also set a world record for the artist. "Nurse'' sold for $95.3 million, almost doubling the previous auction record for the pop artist of $56 million. OPEN TO SEE THE EXPENSIVE ART WORK.....
Impressionist, modern and contemporary art by well-known artists `"do not require a tremendous amount of aesthetic or intellectual risk on the part of the collector,'' said Sarah Lichtman, assistant professor of design history at Parson School of Design. "They are beautiful paintings - some even exceptional as is the Modigliani - but they are tried and true.''
Christie's expects to sell at least $1 billion of art over a series of evening, day and online sales this week.
"There is clearly good appetite among collectors for exceptional works of art offered with appropriate estimates,'' said Brook Hazelton, president of the Americas for Christie's. "This is a very broad and globally diverse market at the moment, with strong interest in paintings, sculpture and works on paper from the $10,000 level straight up to multimillion-dollar masterpieces at the top end.''
Also on sale Monday night were two major works by Paul Gauguin from his Tahiti period.
"Therese,'' a carved wooden figure of a Tahitian female, brought in a record $30.9 million, topping its presale high estimate of $25 million. The previous auction record for a sculpture by the artist was $11.2 million. (VOA)
"There is clearly good appetite among collectors for exceptional works of art offered with appropriate estimates,'' said Brook Hazelton, president of the Americas for Christie's. "This is a very broad and globally diverse market at the moment, with strong interest in paintings, sculpture and works on paper from the $10,000 level straight up to multimillion-dollar masterpieces at the top end.''
Also on sale Monday night were two major works by Paul Gauguin from his Tahiti period.
"Therese,'' a carved wooden figure of a Tahitian female, brought in a record $30.9 million, topping its presale high estimate of $25 million. The previous auction record for a sculpture by the artist was $11.2 million. (VOA)
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