A 1917 painting by Amedeo Modigliani titled “Nude Seated on a Divan” sold for $68.96 million at Tuesday night’s Impressionist and Modern Art Evening Sale at Sotheby’s New York, setting a new a record for the artist’s work. The star attraction of the sale, the painting had been expected to bring about $40 million, according to Sotheby’s estimate, but competition among five bidders drove the price relentlessly up.
It was a case of history repeating itself, though with a lot more money involved: Back in 1999, the same painting sold at Sotheby’s for $16.7 million, which was a record for Modigliani at the time.
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