A painting by Italian artist Amedeo Modigliani has become the most valuable work ever sold at Sotheby's. Sales have spiked in recent months as private buyers and new galleries enhance their collections.
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Amedeo Modigliani's female nude "Nu couché (sur le côté gauche)" (Nude lying on her left side) caused a stir when it was first shown in Paris in 1917; police had to close the exhibition. On Monday night in New York it was sold for $157 million (€131 million), to an unknown buyer.
Reflecting on the buoyant market, Sotheby's Simon Shaw said: "It's a masterpiece-driven market, collectors are increasingly good at differentiating the best from the rest and this is an A+ piece from an A-class artist."
The Italian artist is credited with having reinvented the painting of nude models for the Modern era and it is his largest work.
A contemporary of Picasso, Modigliani was not very successful during his lifetime and died aged 35 in Paris in January 1920. Most of his other reclining nudes are in US museums, including the Guggenheim, MoMa and the Met.
Also sold on Monday evening, Picasso's "Le Repos," went under the hammer for $40 million, one of 11 of his works on offer. Claude Monet's "Matinee sur la Seine" brought in $20.6 million. Edvard Munch's "Summer Night" and Georgia O'Keeffe's "Lake George with White Birch" each raised over $11 million.
The millions raised in Sotheby's sale brought auction house total sales over the last two weeks to well over a billion dollars.
Rockefeller millions
A series of online sales and auctions of a thousand objects from the Rockefeller family has concluded at Christie's. A collective estimate of $600 million for the works was exceeded as the lots brought in a total of $832 million. Various items were on offer, ranging from the Sevres porcelain set taken by French Emperor Napoleon into exile on the island of Elba, which went for $1.8 million after an estimate of $250,000, to $84.7 million for Claude Monet’s water lilies "Nymphéas en fleur" (1914–17) and $80.8 million for Henri Matisse's "Odalisque."
Picasso's "Young Girl With Basket of Flowers" sold at Christie's last week for $115 million as part of the Rockefeller sale.
While very high, no individual work has yet attracted a price similar to the $450 million paid for Leonardo Da Vinci's "Salvator Mundi" at Christie's in New York last November. It is believed now to be the property of Abu Dhabi's department of culture and tourism and is expected to go on show at the Louvre Abu Dhabi.
Before Da Vinci took top spot for the world's most highly priced art work, Picasso's 1955 "Women of Algiers (Version O)", was sold at Christie's for $179.4 million in 2015 in New York. It now occupies second place on the world high-price list with with another Modigliani nude, "Nu couché (Reclining Nude)" sold by Christie's in 2015 for $170 million, one notch behind it.
Most expensive artworks sold at auction
Da Vinci's "Salvator Mundi" holds the record for the most expensive work of art to go under the hammer. Munch and Van Gogh also make the list, and a Monet painting has broken the record for auctioned impressionist art.
Image: picture alliance/ZUMAPRESS/R.Tang
Da Vinci's 'Salvator Mundi': $450.3 million
Created around 1500, this painting of Christ attributed to Leonardo da Vinci is one of the master's 20 still existing paintings. In 1958 "Salvator Mundi" was sold for just $60 because it was thought to be a copy. But it fetched more than four times Christie's pre-sale estimate on November 15, 2017, when it was sold for over $450 million (€382 million) — setting a world record for auctioned art.
Image: picture alliance/ZUMAPRESS/R.Tang
Picasso's 'Women of Algiers': $179.4 million
From 1954-55, Pablo Picasso did a series of 15 paintings inspired by Delacroix's "Les Femmes d'Alger," with versions named "A" through "O." He started them after the death of Henry Matisse, as a tribute to his friend and artistic rival. "Version O" broke the world record for an auction sale, selling for $179.4 million (167.1 million euros) at Christie's in May 2015.
Image: Reuters
Modigliani's 'Reclining Nude': $170.4 million
At a Christie's auction held in November 2015, seven potential buyers spent nine frantic minutes bidding on this painting. It was finally snapped by a telephone bidder from China. The nude, painted in 1917-18, provoked a scandal at its first exhibition in Paris. The police shut down the art show after a crowd gathered outside the window.
Image: picture-alliance/AP Photo
Modigliani's 'Nude lying on her left side': $157.2 million
Modigliani's work "Nu couché (sur le côté gauche)" caused such a controversy when it was first shown in Paris in 1917 that the police had to close the exhibition. The Italian artist's oil painting became the most expensive artwork to have been sold at New York auction house Sotheby's in May 2018.
Image: Reuters/Venus Wu
Klimt's 'The Woman in Gold': $135 million
This 1907 painting by Gustav Klimt is considered one of the most elaborate and representative of his "golden phase." In 2006, it was sold through a private sale brokered by Christie's for a record sum for a painting, $135 million. That same year, Jackson Pollock's classic drip painting "No. 5 1948" broke that record, obtaining $140 million through another private sale.
Van Gogh's 'Portrait of Dr. Gachet': $149.7 million
Van Gogh allegedly said of the homeopathic doctor Dr. Gachet, whom he painted here in 1890, that "he was sicker than I am." The plant is a foxglove, which is used to make the drug digitalis. In 1990, the work was auctioned off to Ryoei Saito, Japan's second-largest paper manufacturer, for $82.5 million, making it the world's priciest painting at the time (the price above has been adjusted).
Image: AP
Bacon's 'Three Studies of Lucian Freud': $142.4 million
This 1969 triptych documents Francis Bacon's friendship and rivalry with fellow painter Lucian Freud. At the time it was sold, in November 2013, it obtained the highest price for a work of art at an auction, until Picasso - and now Modigliani - surpassed that record in 2015.
Image: picture-alliance/dpa
Renoir's 'Dance at Moulin de la Galette': $141.7 million
This 1876 work by Impressionist master Renoir depicts a dance venue for high society on the outskirts of Paris, the Moulin de la Galette. One of Renoir's most famous works, it exudes the joie de vivre that is characteristic of his style. In 1990, the work was purchased for $78.1 million (adjusted price above) by Japanese buyer Ryoei Saito, along with van Gogh's "Portrait of Dr. Gachet."
Image: picture-alliance/dpa
Picasso's 'Boy with a Pipe': $130.7 million
This portrait of an adolescent holding a pipe and wearing a garland of flowers in his hair was created during the Spanish master's "Rose Period" in 1905. Just a little under a century later, the painting fetched an impressive sum of $104.2 million at a Sotheby's auction in 2004 (price adjusted above).
Image: picture-alliance/dpa
Munch's 'The Scream': $119.9 million
This agonizing character painted by Edvard Munch is one of the most iconic paintings in the world. The Expressionist artist had actually made four versions of it: Three are in Norwegian museums, and the fourth one was sold for the screeching price of $119.9 million in May 2012 at Sotheby's, which would be adjusted to $130.7 million today.
Image: picture-alliance/dpa
Picasso's 'Young Girl with a Flower Basket': $115 million
Picasso is well represented among the highest earning painters. His 1905 masterpiece "Fillette a la corbeille fleurie" ("Young Girl with a Flower Basket") was sold – along with two other Rose Period paintings – by the artist himself to writer Gertrude Stein in a sale that helped launch his career. The work, which was later part of David and Peggy Rockefeller's collection, sold for $115 million.
Image: picture-alliance/dpa/J. Schmitt-Tegge
Monet's 'Meules': $110.7 million
The French painter Claude Monet created multiple landscape series that depict the same subject in different types of light and seasons, showing off his ability to capture atmosphere. The painting "Meules" (1890), from his "Haystacks" series, fetched $110.7 million (€98 million) at a Soethby's auction — the record for a Monet and the first impressionist painting to cross the $100-million threshold.
Image: picture-alliance/AP Photo/Sotheby's
Picasso's 'Nude, Green Leaves and Bust': $106.5 million
Inspired by his mistress Marie-Thérèse Walther, Picasso created this painting in a single day in 1932. If you add the eight minutes and six seconds it took for the auction record bid at Christie's in May 2010, it still appears to be well-invested time. Its price could be adjusted to $115.7 million today.
Image: picture-alliance/dpa
Botticelli's 'Young Man Holding a Roundel': $92.2 million
Sandro Botticelli's masterpiece was sold at auction at Sotheby's in January 2021 for $92.2 million. The Italian Renaissance master had never fetched so much at auctions before. Prior to the sale, the work had been estimated at about $60 million.