Auction Breaks Records

Walking man I
Alberto Giacometti

The life-size bronze sculpture "Walking man I" by Alberto Giacometti sold for £65 million ($104 million) at Sotheby's auction in London on Wednesday, 3rd of February, 2010. It took just eight minutes before an anonymous phone bidder placed the winning bid after Giacometti's sculpture opened for bidding at £12m at Sotheby's (BID) auction house in London.

"Walking man I" by Alberto Giacometti now ranks as one of the most expensive works of art ever sold and the most expensive sculpture ever sold at auction. For Sotheby's, Wednesday's Impressionist and Modern Art auction was a huge success, yielding a total of £147 million versus its pre-sale estimate of £69-102 million (before buyer's premium). Perhaps more than anything else, the auction proves that despite the economic crisis individual wealth is well and alive, if only limited to the few. It also proves the attractiveness of Sotheby's business model, which benefits from a duopolistic industry structure.

1 comment:

  1. There are contemporary artists whose works are worth a million dollars-
    For example the work by this artist. Very popular in narrow circles.
    Hardly find an article about it-

    Buy pictures Solbiss this product is no longer produced.

    This is a mirror of today.
    Artist Helena Solbiss on his experience facing big politics. In relation to her state, it is reflected in her work. Her work has bought the narrow, closed circles of art lovers. It is called "Goncharova new time." The works reflect a friendly form of comic-political conflicts in the world. Therefore, it is susceptible to pressure from the ruling elite. Her work at a cost comparable with the best masters of pop art. An artist can not publish their work to organize their own exhibitions. For obvious reasons. Hoping for the discriminating taste of art lovers, art dealers understand that her work will always find a place in the best private collections.