Modigliani painting sells at auction for 13.5 mn euros05 june 2014, 13:34
A painting by Italian artist Amedeo Modigliani sold at an auction in Paris Wednesday for 13.5 million euros ($18.3 million), a record for the artist's work in France, AFP reports according to auction house Sotheby's.
The portrait of his main patron Paul Alexandre done in 1911-1912 had up to now been in the hands of Alexandre's family and was estimated at between five and eight million euros.
"There were five bidders on the phone" vying for the painting, Sotheby's said in a statement without giving details of the successful one.
Alexandre met the young Modigliani in Paris in 1907 and up to 1914, he was the only buyer of the artist's work.
Besides the portrait, four drawings by Modigliani which were part of Alexandre's collection were also sold for a total of 900,900 euros.