Christie's France president François de Ricqlès auctioning the Modigliani sculpture Tête on Monday night in Paris. (Miguel Medina/AFP/Getty Images)

Tête, an elongated head sculpted by Amedeo Modigliani in the early 20th century, sold for more than $50 million at a Christie's auction in Paris Monday night, with furious bidding pushing the price up to the record-breaking total.

The limestone sculpture, which depicts a long, elegant female face, was first exhibited at the Salon d'Automne exhibition in Paris in 1912. Modigliani created the work sometime between 1910 and 1912.

The work had been part of the collection of French businessman and Monoprix supermarket chain founder Gaston Levy, who died in 1977. Since then, the 65 cm-tall stone sculpture had remained in his family and away from the public eye.

Tête drew fierce bidding in person and by telephone for nearly 15 minutes, with a quartet of anonymous U.S. and European buyers fighting the final tug-of-war for the piece, according to Christie's officials.

The final price achieved was 43.185 million euros (approximately $52 million Cdn) - well over the initial sales estimate of between 4 million and 6 million euros.

According to Christie's France president François de Ricqlès, it marked not only a new record for the sale of a Modigliani artwork, but also the highest price ever achieved for any work of art sold at auction in France.