In the latest sign that the art market is rescaling its pre-Lehman Brothers heights, a rare sculpture by Amedeo Modigliani has sold for 43.2 million euros in auction at Christie’s June 14 Impressionist and Modern Art sale in Paris. Carved in limestone and made between 1910 and 1912, Téte depicts an exaggeratedly elongated head with a thin nose and plunging jawline converging at a point far below the figure’s inset eyes. The work comes from the collection of Monoprix founder Gaston Levy, who acquired it in 1927. Bidding quickly outpaced the pre-sale high estimate of 6 million euros. The sale marked a new record for art sold at auction in France; however, the buyer remains anonymous. The 129 other lots on offer that night combined for a haul of little more than 5 million euros, for a total of 48.8 million euros.
