Judd Tully scoped out some underbidders last night at Sotheby’s to reveal a shifting collector base. Things are getting tough when serial bigfoot buyer Stevie Cohen gets outbid:

Judging by the cast of client specialists fielding the telephone bank, a global gamut of bidders was represented, including Russia and the United States. It appeared that New York advisor Sandy Heller, occupying one of the sky boxes above the salesroom, was pursuing the work by phone through a Sotheby’s intermediary — most likely bidding on behalf of hedgie Steve Cohen, whose collection of artfully painted women by artists from Munch to Picasso is storied. Heller was another underbidder. The buyer remains a mystery.

“The Modigliani was a great price,” New York and London dealer Daniella Luxembourg said as she exited the salesroom. “I feel it is a new market, with new buyers, and not the market we’ve known.”

A Record Modigliani Nude Fans Market Flames at Sotheby’s $227.5 Million Impressionist and Modern Sale (ArtInfo.com)