A 1955 Giacometti Sculpture Could Fetch Over $70 Million at Auction

Sotheby's has landed a major prize for its May 13 modern art evening sale in New York:  Grande tête mince (Grande tête de Diego) , a 1955 bronze bust by  Alberto Giacometti , estimated at more than $70 million.

The work was hand-painted by the artist as a tribute to his brother Diego, Giacometti's lifelong muse and studio assistant. It is the most high-profile lot announced so far for the spring auctions, exceeding a Piet Mondrian painting, estimated to sell for around $50 million, that will appear at Christie's as part  Leonard Riggio collection , which that house clinched  back in February .

More from Robb Report

• An Ancient Egyptian Prince's Tomb Was Just Discovered South of Giza

• This $28 Million Ultra-Modern Home in Florida's Delray Beach Comes With a Mani-Pedi Salon

• This 3-Liter Louis XIII Cognac Decanter Is Available in the U.S. for the First Time

Next month's sales will be a crucial test for the art market. Auction totals  have declined  for two consecutive years amid global economic uncertainty, and  concerns over tariffs  and stock market volatility have deepened the mood of caution. Few estates have consigned major works, and according to market watchers, many private sellers are opting to sit out.

The 25-inch-tall bust is being offered anonymously, but according to  Artnet News ,  it comes from the estate of real estate magnate Sheldon Solow, who died in 2020. It's being sold through the Soloviev Foundation, the nonprofit established by Solow's son, Stefan Soloviev.

The sculpture was exhibited at the 1956 Venice Biennale and remained on view for nearly two decades at the Fondation Maeght in southern France before Solow acquired it from Galerie Maeght in 1980, according to the Sotheby's.

Simon Shaw, Sotheby's senior adviser for Impressionist and modern art, described  Grande tête mince  as one of Giacometti's most formally radical and emotionally charged works. Shaw noted the rarity of this particular cast—the only known version with a richly painted surface—and emphasized its "profound meditative presence," according to  Artnet News .

The bust is one of six casts. Market precedent is strong: another version  sold for $53 million  at Christie's in 2010, and another  brought $50 million  at Sotheby's in 2013. (Final prices include fees; presale estimates do not.)

The higher estimate this time reflects both the quality of this specific cast and Giacometti's rising market profile Shaw told  Artnet News.  In  2015,  Pointing Man  sold for $141.3 million , setting a record for both Giacometti and any sculpture at auction, while  Le Nez  fetched $78.4 million  more recently. (Back in February, that sculpture became the center of a  legal battle  between collectors Justin Sun and  David Geffen .)