Tags: amedeo modigliani | auction | 157.2 million | reclining nude

Amedeo Modigliani Auction Draws $157.2 Million for Reclining Nude

Image: Amedeo Modigliani Auction Draws $157.2 Million for Reclining Nude

A painting "Nu couche" by Italian artist Amedeo Modigliani is displayed during the Sotheby's auction press preview in Hong Kong Tuesday, April 24, 2018. (AP Photo/Vincent Yu)

Tuesday, 15 May 2018 01:02 PM

An Amedeo Modigliani painting at auction fetched $157.2 million Monday in New York.

The 1917 “Nu couche (sur le cote gauche)” depicts a reclining naked woman from behind, one leg bent, looking calmly over her shoulder at the viewer. Estimated at a season-high $150 million, it was the star lot of Sotheby’s auction of Impressionist and modern art. (Prices include the buyer’s commission; estimates don’t.)

The painting is the largest by Modigliani, who died in 1920 at age 35. It was the cover lot of an acclaimed exhibition of the artist’s famous nudes at Tate museum in London that ended April 2.

The seller, Irish bloodstock billionaire John Magnier, had purchased it for $26.9 million in a 2003 Christie’s auction.

Magnier owns Coolmore Stud, the world’s biggest thoroughbred breeder. His wife Susan is responsible for choosing the works that make up their art collection, according to a person with knowledge of the matter. She’s also responsible for naming all of the horses that run in Coolmore’s colors, the person said, asking not to be identified because the matter is private. Lately, the steeds have been named for artists, including one promising colt named Amedeo Modigliani.

Another Modigliani nude sold for an artist auction record of $170.4 million in 2015 at Christie’s. Its buyer was the Long Museum in China, founded by billionaire Liu Yiqian.

Earlier in the auction, a Picasso sold by Sue Gross, the ex-wife of money manager Bill Gross, fetched $36.9 million, exceeding the high estimate. The 1932 work, “Le Repos,” is a portrait of Picasso’s lover Marie-Therese Walter. The Sotheby’s auction continues.

A recent auction at Christie's, which included an $832 million total for the priciest private collection of artworks and other treasures, owned by Peggy and David Rockefeller, set 22 world records.

A Picasso painting worth $70 million was pulled from auction this week at Christie's after it was damaged.

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A 1917 painting by Amedeo Modigliani of a reclining naked woman drew $157.2 million Monday at Sotheby’s in New York.
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2018-02-15
Tuesday, 15 May 2018 01:02 PM
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