Giacometti sculpture sells for $141M; Picasso painting sets record for art at auction: $179.4M

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Giacometti sculpture sells for $141M; Picasso painting sets record for art at auction: $179.4M


Author: NEWEurope.


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Giacometti sculpture sells for $141M; Picasso painting $179M

by DEEPTI HAJELA and ULA ILNYTZKY, Associated Press11 May 2015 20:44-04:00

(AP) — A sculpture by Alberto Giacometti has sold for more than $141 million at an auction at which a Pablo Picasso painting set a world record.

Giacometti’s “Pointing Man” sold Monday night at Christie’s auction house in New York City, setting a sculpture record. The price includes the buyer’s premium. The work depicts a skinny 5-foot (1.5-meter)-high bronze figure with extended arms.

Picasso’s “Women of Algiers (Version O)” sold earlier for a record $179.4 million.

Francis Bacon’s “Three Studies of Lucian Freud” previously held the record for art at auction when it sold for $142.4 million in 2013. The sculpture record was $104 million.

The Giacometti sculpture was among two dozen masterpieces from the 20th century Christie’s offered in a curated sale titled “Looking Forward to the Past.”

Experts say the prices are driven by artworks’ investment value and by wealthy collectors seeking the very best works.


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