Modigliani was born into a Sephardi family in Livorno, Italy in 1884.
He is known for his portraits and nudes, and was associated with the Jewish school of artists in Paris in the early years of the 20th century.
Reclining Nude, one of his best known works, was first exhibited in the French capital in 1917.
A new record was also set for the sale of a work by Jewish pop artist Roy Lichtenstein. His 1964 painting Nurse fetched $95.4m at the auction.
