Modigliani nude expected to lead spring auctions with record price of $150 million [CNBC]
SOTHEBYS (BID)
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Source: CNBC
Sotheby's Tuesday morning unveiled a painting by Amedeo Modigliani that's expected to fetch more than $150 million at next month's auction, making it one of the most expensive ever to go under the hammer. The painting, called Nu couche (sur le cote gauche), or Reclining nude, adds to the bonanza of high-priced art expected to come up for sale in May at the major auction houses. The grand total during the two weeks could top $2 billion. At least a half dozen works of art are expected to sell for more than $75 million next month, which could be the highest ever. It raises questions about whether the feeding frenzy in the art market may a sign of a peaking economy. Sotheby's CEO Tad Smith, told CNBC that the Modigliani — the largest ever painted by the famously troubled artist — will attract bids from around the world. This is a masterpiece, Smith said. It's from a crucial artist, the foundation of modernism and it's a spectacular painting. It's one of the greatest pieces t
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