A wooden screen by Diego Giacometti led a sale dedicated to his work at Sotheby’s on May 17.
Titled Paravent les Animaux Rois (1984), it’s constructed from oak inlaid with brass leaves, trees and animals.
The screen is inlaid with brass flora and fauna
It’s one of four such screens, which were designed for the home of a Parisian collector. This was among Giacometti’s last major commissions before his death in 1985.
It realised $806,354 against a valuation of $443,356, an increase of 81.8%.
A 1982 Carcasse a la chauve-souris table realised $607,500, more than double its $300,000 estimate.
Demand for Giacometti’s work is on the up.
As we’ve noted previously, the vast majority of lots have sold for double or triple their estimates in every recent sale of his work.
This latest auction was no exception.
Much of this rising value is driven by the enormous sums paid for work by his brother, Alberto Giacometti – whose record stands at $141.3m for a sculpture titled L'Homme au doigt.
The brothers worked together from the same studio for most of their adult lives and have very similar styles, although Diego focused mainly on furniture rather than fine art.
Also, design is becoming increasingly popular with investors, which is having a major impact on the market.
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