Sculpture of a humble man stokes art market to new level
- February 16, 2010 11:00
In 2009, art auction prices plummeted 24%, according to the Mei Moses Fine Art Index. Economic uncertainty caused art buyers (and sellers) at the very top level to flinch, but perhaps just for a moment. The highest price ever paid for an auctioned artwork, $104.3 million, reached by a 1960 Giacometti sculpture titled 'Walking Man I,' was a powerful indicator last month that the world's super-rich believe they have escaped financial Armageddon.