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| Modigliani's Reclining Nude fetches second-highest ever art auction price | Modigliani's Reclining Nude fetches second-highest ever art auction price |
| (about 2 hours later) | |
| A painting by Amedeo Modigliani has fetched US$170.4m (£112.7m) at an auction in New York, setting a world record for the artist. | |
| Related: A Picasso has just been bought for a record US$179m, but is it worth it? | Related: A Picasso has just been bought for a record US$179m, but is it worth it? |
| Reclining Nude was sold at Christie’s on Monday after a protracted bidding battle. It was the second highest price ever achieved at auction for a work of art. | Reclining Nude was sold at Christie’s on Monday after a protracted bidding battle. It was the second highest price ever achieved at auction for a work of art. |
| Christie’s said the painting was bought by private Chinese collectors. The Wall Street Journal named them as the billionaire investor Liu Yiqian and his wife, Wang Wei. | |
| Asian collectors have been especially active in the art market for the past several seasons. | |
| Considered one of his best known works, the 1917-1918 painting nearly created a scandal when it was first exhibited in Paris. The previous auction record for a Modigliani was $71m. | Considered one of his best known works, the 1917-1918 painting nearly created a scandal when it was first exhibited in Paris. The previous auction record for a Modigliani was $71m. |
| Pablo Picasso’s painting Women of Algiers (Version O) holds the record for the highest sum ever paid for an artwork at auction. It sold for $179.4m at Christie’s in May. | Pablo Picasso’s painting Women of Algiers (Version O) holds the record for the highest sum ever paid for an artwork at auction. It sold for $179.4m at Christie’s in May. |
| While nearly 30 percent of the “Artist’s Muse” offerings went unsold – Lucian Freud’s Naked Portrait on a Red Sofa was estimated at as much as $30m but failed to sell – the auction took in $494.4m in total. | |
| A new record was set for an auction sale of work by Roy Lichtenstein, the pop artist best known for his vibrant, cartoon-style works. His 1964 painting Nurse fetched $95.4m, within the $80m to $100m estimate. | |
| Christie’s expects to sell at least $1bn of art over a series of sales this week. | Christie’s expects to sell at least $1bn of art over a series of sales this week. |