The billionaire founder of a Shanghai museum paid $170.4m for an Amadeo Modigliani nude at Christie’s in New York on Monday, carrying a night in which global art buyers focused their attention on a few masterworks but left other lots unsold.
The Italian painter’s “Nu couché” (reclining nude) went under auctioneer Jussi Pylkkanen’s hammer for $152m before fees, marking the second-highest price for a work sold at auction and far exceeding the estimate of about $100m.
The portrait prompted a back-and-forth between half a dozen bidders, most over the phone, pushing the price up until it was sold to Liu Yiqian, who with his wife Wang Wei founded two of Shanghai’s best known private art museums, the Long Museum Pudong and Long Museum West Bund.
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