Modigliani's Portrait of Paulette Jourdain leads the Taubman Sale at

The first of Sotheby’s extensive auctions of property from the Collection of A. Alfred Taubman concluded last night at Sotheby’s New York with a total of $377 million. The Masterworks sale was led by Paulette Jourdain, one of the finest and final portraits ever painted by Amedeo Modigliani, which sold for $42.8 million. Five bidders competed for the work from all corners of the globe, eventually selling to an Asian private collector. Mr. Taubman acquired the portrait from Acquavella Galleries in 1983.

“Sharing Alfred Taubman’s collection with tens of thousands of collectors and visitors in our galleries in New York, London, and Hong Kong has been a privilege. I am comfortable with tonight’s results, and with more than 400 works still to be sold over the next several months, we are on track to cover most of the total guarantee. Bear in mind that both the hammer and buyer’s premium count towards the guarantee.” Tad Smith, President and CEO of Sotheby’s.