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£250 Find Sells for £2.9 Million at Auction
26 Oct
Summary
- An artist bought a Giacometti chandelier for £250.
- It sold for £2.922 million at Christie's in 2023.
- The piece was commissioned for a literary magazine.
A bronze light fitting by Swiss sculptor Alberto Giacometti, acquired for £250 from a London antiques shop, sold for £2.922 million at Christie's in February 2023. British artist John Craxton discovered the chandelier in the late 1960s and recognized its maker despite no attribution. He purchased it with his savings and kept it until his passing.
The artwork, titled Chandelier for Peter Watson, was commissioned by art patron Watson for the offices of the literary magazine Horizon in Bloomsbury, London, around 1946-47. Following the magazine's closure in 1950, the chandelier's whereabouts became uncertain until its appearance in an antiques shop.
Giacometti, known for his elongated figures, also designed decorative objects, with this chandelier blending sculpture and function. The piece stands 134cm tall and measures 153.5cm across, featuring intricate bronze detailing. Its design reflects the artist's exploration of both decorative and sculptural forms during that period.
Before its 2023 auction, the chandelier's authenticity was confirmed by the Fondation Giacometti. In July 2023, the UK government placed a temporary export deferral on the item, valuing it at £2.922 million, to allow a British institution the chance to acquire it.
