John Magnier’s Modigliani painting makes €120m

The New York sale of a 1917 nude painting by Amadeo Modigliani is believed to have earned horse stud owner John Magnier close to €120m.

He is understood to be the owner of the work, which was last sold in another New York auction in 2003 for a meagre $27m. Nearly 15 years later, the hammer fell at $139m (€117m) for the same painting at Sotheby’s on Monday night, costing the buyer over $157m (€132.5m) when fees are added.

Nu couché (sur le côté gauche) was part of an exhibition of the Italian artists’ work which Parisian police closed on the day of its opening, such was the shocked response. At almost 5m in length, it was one of Modigliani’s largest works, and the guide price had been a record.