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Text size [+][-]  Monday March 15 2010GLOBAL EDITION

Considered view
04 Feb 2010 17:39

Learning to walk

Context News

Alberto Giacometti's 1965 bronze "L'homme qui marche I" (Walking Man I) fetched a record for a work of art at auction on Feb. 3 in London, selling for 65 million pounds ($104.3 million) at Sotheby's.
 
The price, including buyer's premium, eclipsed Picasso's "Boy with a Pipe (The Young Apprentice)", which sold for $104.2 million six years ago. The life-sized Giacometti was the first of its kind on the block for two decades. The buyer was not identified.
 
Dresdner Bank -- now part of Commerzbank -- bought the sculpture in 1980. The work was commissioned by architect Gordon Bunshaft for Chase Manhattan Plaza in New York, though it was never installed.

Sotheby's sale.

Commerzbank release on art sales.

The German bank sold a Giacometti sculpture it bought in 1980 for 65 mln stg, an art auction record. The result compares favorably with the $3 bln-plus it spent on Kleinwort Benson and Wasserstein Perella - both now worth pfennigs on the D-mark. Art has again trumped commerce.

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More stories by:  Rob Cox






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