A sculpture by Italian artist Amedeo Modigliani has fetched $52.6 million at a Paris sale, an auction record for the artist and the highest price paid for a work of art sold in France.
The 65-cm limestone wo-rk, entitled Tete, was executed in 1910-12 and was one of only around 10 Mod-igliani sculptures to be held privately, according to Chr-istie’s, which sold the piece.
The artist is known to have created only 27 sculptures overall, and its rarity value, combined with booming values for top works of art, drove prices higher. “Our Paris sale results confirm a vigorous market in which collectors demonstrate an insatiable appetite for works of great rarity and excellence,” said Anika Guntrum, head of Christie’s impressionist and modern art depa-rtment in Paris. Both Sotheby’s and Christie’s set auction records this year, each selling a work of art for over $100 million.