What makes an artwork worth £65m? I have been asking the same question since the life-size bronze sculpture by Alberto Giacometti was sold at auction in the UK for the world-record price of £65,001,250. I guess, at the end of the day, art is obviously in the eye of the beholder, and people who can afford to do so can spend their money as they please. But Melanie Clore's, (Deputy Chairman, Sothebys) answer (condition, rarity, reputation of the artist, competition, and confidence) was also interesting. Art business is a peculiar business, but it's a business. Many thank to Will Gompertz for sharing your thoughts.
Useful link:
www.sothebys.com
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