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Italian sculpture could shatter auction record

Sarfraz Ali 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.'

Sarfraz Ali
Sarfraz Ali

Sarfraz Ali is working as Editor Web for Daily Pakistan. He earned a postgraduate degree in Mass Communication from IUB and diploma in International Print Journalism from Thomson Foundation UK. He regularly writes on ...

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 7, 2022 (Tuesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 279 282
Euro EUR 296.67 297.26
UK Pound Sterling GBP 331.71 332.41
U.A.E Dirham AED 74.8 75.1
Saudi Riyal SAR 73.21 73.51
Australian Dollar AUD 190.31 192.72
Bahrain Dinar BHD 732.23 740.23
Canadian Dollar CAD 205.22 207.42
China Yuan CNY 40.72 41.12
Danish Krone DKK 39.92 40.32
Hong Kong Dollar HKD 35.08 35.43
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 900.32 909.32
Malaysian Ringgit MYR 64.65 65.25
New Zealand Dollar NZD 174.19 176.19
Norwegians Krone NOK 27.12 27.42
Omani Riyal OMR 715.11 723.11
Qatari Riyal ‎QAR 75.64 76.34
Singapore Dollar SGD 208.03 210.03
Swedish Korona SEK 26.1 26.4
Swiss Franc CHF 297.31 299.81
Thai Bhat THB 8.25 8.4

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 203,400 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs173,360.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 203,400 PKR 2,350
Karachi PKR 203,400 PKR 2,350
Islamabad PKR 203,400 PKR 2,350
Peshawar PKR 203,400 PKR 2,350
Quetta PKR 203,400 PKR 2,350
Sialkot PKR 203,400 PKR 2,350
Attock PKR 203,400 PKR 2,350
Gujranwala PKR 203,400 PKR 2,350
Jehlum PKR 203,400 PKR 2,350
Multan PKR 203,400 PKR 2,350
Bahawalpur PKR 203,400 PKR 2,350
Gujrat PKR 203,400 PKR 2,350
Nawabshah PKR 203,400 PKR 2,350
Chakwal PKR 203,400 PKR 2,350
Hyderabad PKR 203,400 PKR 2,350
Nowshehra PKR 203,400 PKR 2,350
Sargodha PKR 203,400 PKR 2,350
Faisalabad PKR 203,400 PKR 2,350
Mirpur PKR 203,400 PKR 2,350

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