“Elvire, en buste” — a new Modigliani record and a triumph for Sotheby’s Paris

According to Sotheby’s, the highlight of the evening was Amedeo Modigliani’s “Elvire, en buste” (1918–1919), which sold for $31.3 million after intense bidding between seven participants. The painting, unseen publicly since 1974, set a new French auction record for Modigliani and became the most expensive artwork ever sold at Sotheby’s Paris.

Another of the artist’s works — “Raymond” (1915), depicting the young writer Raymond Radiguet — sold for $12.4 million following a spirited ten-minute bidding battle, doubling its high estimate. Both paintings had been held in the same private collection for over half a century.

Overall, the Modernités section realized $72.8 million, with 90% of lots sold and 61% making their auction debut.

The Surrealism and Its Legacy sale brought in $31.2 million, marking the second-highest total for Surrealist art in France. The star lot, René Magritte’s “La magie noire” (1934), fetched $12.4 million, doubling its estimate and setting a new record for Magritte’s Magie noire series. The painting had remained in the same Belgian family for 90 years since its purchase directly from the artist in 1935.

American collectors acquired one-third of all lots, and 70% of artworks exceeded their high estimates.

The record-breaking Paris auctions follow a strong year for Sotheby’s, continuing the momentum of recent high-profile sales, including the Pauline Karpidas Collection in London, which achieved $137 million.

While Paris celebrates the triumph of modern and surrealist masters, Astana hosts its own cultural event — the Astana Art Fair 2025, bringing together artists from Central Asia and Russia under the theme “Bolashaqtyń tamyrlary / Future Roots.”