Giacometti, the new Picasso [02/04/2010]
This wednesday February 3rd, Sotheby's London's evening sale was a time for a new world record. L'Homme qui marche I, Alberto GIACOMETTI 's human-size bronze was auctioned £58M (£65M premium included), for a £12M-18M estimate, and is now the most expensive artwork ever auctioned.
Giacometti has superseded Pablo Picasso's Garçon à la Pipe that sold for $93M (£51.8M) on 5 May 2004 at Sotheby's.
Giacometti has exceeded his own 2009 total sales revenue with one single auction record. The £58M L'Homme qui marche I alone has yielded more profits than the 170 artworks (including 22 sculptures) put up for auction in 2009.
This sale's global revenue is Sotheby's London's most profitable sale (£146.8M premiums included) and points out to the art market revitalizing in 2010 after a 1 and a half-year crisis.
EUR100 invested in 1998 in a work of Alberto GIACOMETTI (1901-1966) have an average value of EUR490 in January 2010
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