Thursday, February 4, 2010

Giacometti Sculpture Becomes Most Expensive Work Ever to Sell at Auction

A rare life-size and life-time bronze cast, from 1961, of Alberto Giacometti's L'Homme Qui Marche I, better known as "Walking Man," improbably became the most expensive work of art ever to sell at auction today, selling for £65,001,250 ($104,327,006).

The price barely edged out the previous record, set in 2004 by Pablo Picasso's Garcon a la Pipe, 1905, which went for $104.1 million (£58,052,830) at the time. But Giacometti's personal previous record, achieved when Grand Femme Debout II, 1959-60, earned $27,481,000 at Christie's New York in May 2008, was vanquished in seconds.

The £65,001,250 ($104,327,006) result also pulverized the previous record for any modern sculpture sold at auction, achieved last February at the Yves Saint Laurent sale in Paris when Constantin Brancusi's Madame L.R. (Portrait de Mme L.R.) from circa 1914-17 sold for $37.7 million.

Estimated to sell for £12-18 million, the much-talked-about Giacometti figure of a spindly man, who resembles a survivor of a cataclysmic event, frozen in mid-stride, took off like a Roman candle, with multiple bids erupting in the packed salesroom.

At least four phone bidders tangled for the prize, as did several seasoned dealers, including New York private dealer Nancy Whyte, who went up to £23 million before dropping out, connected via cell phone to her anonymous client.

"That was peanuts," said Whyte shortly afterwards, alluding to her bidding, and expressing surprise at just how much higher the bronze traveled.

Pre-sale buzz that the Giacometti might hit $50 million was greeted with considerable skepticism by even seasoned players. No one even fantasized it would exceed $100 million.

There are two versions of "Walking Man," I and II, each in an edition of six plus artist proofs. It is believed that example of the first walking man, which was consigned by the Frankfurt-based Commerzbank, is the only life-time cast still in private hands.

Sotheby's senior specialist Philip Hook, who took the winning phone bid at a hammer price of £58 million, said that one of the unidentified underbidders told him before the sale that he had been waiting 40 years for the sculpture to come on the market. It turned out to be that kind of generational event. Hook declined to divulge any information about his phone client.

The six-foot-high bronze has an American heritage as well. It was first acquired in December 1961 by legendary New York dealer Sidney Janis, who bought it from Galerie Maeght in Paris and debuted it in New York at the Sidney Janis Gallery in 1968, according to the auction catalogue.

The catalogue also showed a vintage photograph of Giacometti covered in white plaster and working on the spindly legs of the figure in his Paris studio before it was cast in bronze. The image added to the iconic status of the astonishing sculpture, believed by some to be his greatest work. There's no question it's his most expensive

Monday, February 1, 2010

Architecture for Humanity Responds to Haiti Quake


Architecture for Humanity members haven’t slept a wink since Monday night. The San Francisco-based non-profit design services firm founded by Cameron Sinclair and Kate Stohr, is busy mobilizing an architecture army for reconstruction efforts in Haiti following Tuesday’s horrific earthquake.

The firm, which provides design, construction, and development for nations and cultures in need, is currently fundraising for long-term efforts in the crumbled city of Port au Prince. Additionally, Architecture for Humanity has issued a call to architects, interior designers, engineers, environmental scientists, agronomists, and landscape architects across the globe to donate their time and talent to aid in the long road ahead.

“While Haiti is currently in desperate need of relief and recovery services, very soon we will move to long-term reconstruction,” said Cameron Sinclair. “When the world’s attention turns away from this disaster, that is when the design and building community is needed most. Give now to build back better.”

Currently, Architecture for Humanity is fleshing out a comprehensive, two- to four-year plan (including transitional, temporary shelter, as well as permanent construction) for the devastated nation that begins with a site visit in approximately three week’s time. Ideally, the firm will have professionals in the field by month two. Sinclair and his team are urging dedicated, passionate members of the industry, especially those who are French-speaking, to sign up to volunteer at architectureforhumanity.org/getinvolved/offerdesign. Monetary donations can also be submitted via PayPal sans service fee at architectureforhumanity.org/donate.