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Art

Sotheby's to Sell a Nine-Foot-Tall Giacometti Sculpture for at Least $90 Million in an Unusual Sale Where the Bids Are Kept Secret

The work reportedly comes from the collection of billionaire runt Ron Perelman.

Despite the ongoing travel restrictions and lockdowns upending the art market, auction houses are still rolling out masterpieces with some jaw-dropping prices.

The latest is Sotheby’s announcement today that it will offer a monumental Alberto Giacometti sculpture, the nine-foot-tall Grande Femme I, cast in 1960. The rare sculpture also comes with a rare bidding strategy, a sealed and confidential “Best Bid” system, under which “qualified participants” can submit bids starting today—as long as they offer a minimum of $90 million.

Read more on Artnet:

https://news.artnet.com/market/sothebys-giacometti-sealed-bid-sale-1917102

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