Arts & Culture The art market is popping ever so effervescently these days, as Christie's International announced the $53-million sales price of a limestone head by sculptor Amedeo Modigliani. The amount sets a new record for art sold at a French auction. According to Christies own pre-auction projections, it was a surprise to all as the price paid for Modigliani's "Tete" was 10 times more than the auctioneers its low-end projection.
According to Bloomberg.com, it is among the last sculptures of the artist that remains in privately owned. "Tete" had been in the collection of Gaston Levy, a supermarket mogul of his day. A painting by Matisse that sold for $45.6 million in February 2009 is now the second most expensive piece of art sold at a French Auction.