Image via AP Photo/Alastair Grant Image via AP Photo/Alastair Grant

Last Monday, Chinese collector Liu Yiqian bought the piece at Christie's ''The Artist's Muse'' sale for a record-smashing $170.4 million. Along wife Wang wei, Liu plans to put the work on display the Long Museum, the gallery the couple launched in Shanghai in 2012.

Modigliani,_Picasso_and_André_Salmon Modigliani, Picasso and André Salmon in front the Café de la Rotonde, Paris
Image taken by Jean Cocteau in Montparnasse, Paris in 1916
Image via Modigliani Institut Archives Légales, Paris-Rome

Mayor Filippo Nogarin does not share in the couple's joy at bringing the work to Shanghai. He said to the press: "I am displeased that it went to a private person because I think it should have been given to a museum so that it could be seen by everyone."

''Its beauty could have affected many people and now that may not happen."

"Livorno has a strange relationship with Modigliani. It's a visceral love and then also a sense of guilt because Modigliani left Livorno as a young man. Modigliani is celebrated a lot here.''

The Modigliani work became the world's second most expensive work of art ever to sell at auction and set a new record for an Italian artist. Read more here.