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Sculpture fetches £65m at auction Sculpture fetches £65m at auction
(10 minutes later)
A life-size bronze sculpture of a man by Alberto Giacometti has been sold at auction in London for the world record price of £65,001,250.A life-size bronze sculpture of a man by Alberto Giacometti has been sold at auction in London for the world record price of £65,001,250.
It took just eight minutes for bidders to reach the hammer price after L'Homme Qui Marche I opened at £12m at Sotheby's auction house.It took just eight minutes for bidders to reach the hammer price after L'Homme Qui Marche I opened at £12m at Sotheby's auction house.
Sotheby's said it was the most expensive work ever sold at auction.Sotheby's said it was the most expensive work ever sold at auction.
An anonymous phone bidder bought the work for £58m. The £65m price tag includes the buyer's premium.An anonymous phone bidder bought the work for £58m. The £65m price tag includes the buyer's premium.
The sculpture is considered to be one of the most important by the 20th Century Swiss artist.The sculpture is considered to be one of the most important by the 20th Century Swiss artist.
It had been estimated to sell for between £12m and £18m but furious bidding saw more than 10 rivals bump the price up, eventually reaching the hammer price of £58m.It had been estimated to sell for between £12m and £18m but furious bidding saw more than 10 rivals bump the price up, eventually reaching the hammer price of £58m.
The previous record for an art work sold at auction - US$104,168,000 (£58,520,830) - was held by Pablo Picasso's Garcon a la Pipe which sold in New York in 2004.The previous record for an art work sold at auction - US$104,168,000 (£58,520,830) - was held by Pablo Picasso's Garcon a la Pipe which sold in New York in 2004.
Another art work also exceeded expectations at Sotheby's Impressionist and Modern Art sale.Another art work also exceeded expectations at Sotheby's Impressionist and Modern Art sale.
Gustav Klimt's Kirche in Cassone went for £26,921,250, far above the £12m to £18m estimate.Gustav Klimt's Kirche in Cassone went for £26,921,250, far above the £12m to £18m estimate.