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Italian sculpture could shatter auction record

04:58 PM | 6 May, 2015
Italian sculpture could shatter auction record
NEW YORK (Web Desk) - A sculpture by Italian artist Alberto Giacometti could break the record for the highest price ever paid for a sculpture at auction.

The sculpture, "L'homme au doigt (Pointing Man)" is heading to auction May 11 at Christie's auction house in New York and expected to fetch an estimated $130 million.

The bronze sculpture stands 5 feet, 10 inches tall and features a pencil-thin figure with one arm pointing, another raised behind its head. The piece was cast in 1947.

vvv"L'homme au doigt," along with a cubist painting by Pablo Picasso, "Les femmes d'Alger (Version 'O')," are expected to make the May 11 auction one for the record books.

The world record for a sculpture was set in 2010 with the sale of another Giacommeti piece for $104.3 million. The sculpture, titled "Walking Man I," was 6 feet tall and at the time set the record for any piece of art - two- or three-dimensional - at auction.

That record is currently held by a 1969 Francis Bacon painting titled "Three Studies of Lucian Freud," sold in 2013 for $142.4 million. Picasso's "Les femmes d'Alger (Version 'O')" could overtake that record May 11. It is estimated to be worth $140 million and could fetch an even higher price.

The Christie's sale will be the first time the Giacometti piece will ever hit the auction block. The sculpture was purchased directly from the Pierre Matisse Gallery in 1953 by Fred and Florence Olsen. The piece passed into the current collector's hands by 1970.

'Pointing Man is unquestionably Giacometti's greatest sculpture,' said Jussi Pylkkanen, global president of Christie's. 'Executed after the War in one incredible night of creative fervour, this noble figure points mankind to a brighter future beyond our limited horizons.'

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 25 Feb 2024 forex rates

Pakistani rupee remains stable against US dollar in the open market on February 25, 2024 (Sunday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 25 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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