Wednesday, February 10, 2010

GIACOMETTI SCULPTURE SETS AUCTION RECORD

Alberto Giacometti bronze sculptureThe Alberto Giacometti bronze sculpture "L'homme qui marche I" ("Walking Man I") sold last week for $104,327,006. It is the most expensive artwork ever sold at auction. It auctioned February 3 at Sotheby's in London. Why should the average collector care? Because it's an indication that art is a good investment even in tough economic times. Other reports about recent shows and auctions suggest that collectors are starting to buy again, but they want the best.

8 comments:

Anonymous said...

I kept looking for the decimal point! How big is the sculpture?

Anonymous said...

A lot of money but not "the most expensive artwork ever sold at auction." Paintings by Pollock, de Kooning and Klimt have all sold for significantly more at auction ($135-140 million each).

Anonymous said...

Are you kidding ... over $104 million dollars! WOW!!! I also looked for the decimal point!

I. M. Lost said...

Well, any of the above prices are ludicrous and say an awful lot about anyone who would so conspicuously toss money away. Sure, I like to make a few bucks, or even a lot of bucks, off of an antique I might find, or a piece of sculpture like this. But $100+ million is appalling, a terrible comment on the buyer and the bidders who pumped him/her up.

Anonymous said...

Look at it. I understand why the buyer wanted to remain anonymous. They are obviously an idiot.

Anonymous said...

I agree with I.M. Lost. Pure self absorption by the buyer. The land we could put into conservation for that amount......

Lee said...

There were a series of six by the sculptor. Number 1 of the series resides at the Carnegie Museum of Art in Pittsburgh. Not many time you can stand next to a hundred million dollars...including buyers premium.

Anonymous said...

My church has several oil paintings but we can't figure out the signatures. What's the best way to handle. We do not have $800.00 per picture for appraislas.