Alberto Giacometti's Grande tet de Diego (1954) could make $35m-50m at Sotheby's November 6 sale in New York.
The sculpture is a representation of Alberto Giacometti's brother, Diego Giacometti, a fellow sculptor and designer.
Sotheby's head of impressionist & modern art in New York, Simon Shaw, commented: "Of all his representations of the human figure, Grande tete de Diego is perhaps Giacometti's most radical, visually engaging and emotionally impactful.
"The exaggerated profile and knife edge frontal view allow one to experience two radically different views of his brother. Along with Giacometti's iconic L'homme qui marche, Grande tete de Diego represents the definitive expression of his aesthetic."
The record price paid for Giacometti's work is $103.9m, set by L'homme qui marche I at Sotheby's London in 2010.
The auction will feature a selection of blue-chip paintings, including Picasso's Tete de Femme (1935).
Painted in March 1935, the piece is the last major painting undertaken by the artist before taking a year long break to deal with his divorce from Olga Khokhlova and the birth of his first child, Maya, to Maire-Therese Walther.
Co-chairman of Sotheby's impressionist & modern art department, David Norman, commented: "Of all the manifestations of Picasso's prolific career, it was during the reign of his golden muse Marie-Thérèse Walter that his creativity was at its most powerful.
"His work was refreshed by his young love, inspiring him to paint the most colorful, joyful and ambitious compositions of his entire oeuvre.
"The market has demonstrated a great appreciation for this series - Picasso's depictions of Marie-Thérèse have proven the most desirable of his works among today's collectors, and enjoy a truly global appeal."
Picasso's paintings of Marie-Therese have achieved impressive prices at auction, with Femme assise pres d'un fenetre selling for $44.8m in London in February of this year.
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