Kelly Crow

The creator of the piece is Alberto Giacometti, a Swiss-Italian sculptor whose work reflects the horrors of World War II. He sculpted Large Thin Head in the post-war period in 1954.

Giacometti is one of the most important sculptors of the 20th century, and collectors pay big money for his work. Other casts of the bust have sold for over $50 million, and another Giacometti masterpiece, Pointing Man, sold for over $140 million about a decade ago. All of which is to say, when this particular bust came up for auction, it was an event, and Sotheby's pulled out all the stops.

Giacometti is one of the most important sculptors of the 20th century, and collectors pay big money for his work. Other casts of the bust have sold for over $50 million, and another Giacometti masterpiece, Pointing Man, sold for over $140 million about a decade ago. All of which is to say, when this particular bust came up for auction, it was an event, and Sotheby's pulled out all the stops.

Giacometti is one of the most important sculptors of the 20th century, and collectors pay big money for his work. Other casts of the bust have sold for over $50 million, and another Giacometti masterpiece, Pointing Man, sold for over $140 million about a decade ago. All of which is to say, when this particular bust came up for auction, it was an event, and Sotheby's pulled out all the stops.

This is his magnum opus of what man is, of what Diego is, of what humanity is.

This is his magnum opus of what man is, of what Diego is, of what humanity is.

This is his magnum opus of what man is, of what Diego is, of what humanity is.

You get that duality. You get that it's both of this world, but also at the same time, it's transcendent.

You get that duality. You get that it's both of this world, but also at the same time, it's transcendent.

You get that duality. You get that it's both of this world, but also at the same time, it's transcendent.

I mean, they were laying it on pretty thick.

I mean, they were laying it on pretty thick.

I mean, they were laying it on pretty thick.

But a public auction does present a risk. What if the piece doesn't sell? To get around that, auction houses like Sotheby's will often find what's called a guarantor, somebody willing to buy the piece for an undisclosed price just in case no one steps up during the auction. In exchange for that guarantee, Sotheby's will typically take a bigger cut of the sale price.

But a public auction does present a risk. What if the piece doesn't sell? To get around that, auction houses like Sotheby's will often find what's called a guarantor, somebody willing to buy the piece for an undisclosed price just in case no one steps up during the auction. In exchange for that guarantee, Sotheby's will typically take a bigger cut of the sale price.

But a public auction does present a risk. What if the piece doesn't sell? To get around that, auction houses like Sotheby's will often find what's called a guarantor, somebody willing to buy the piece for an undisclosed price just in case no one steps up during the auction. In exchange for that guarantee, Sotheby's will typically take a bigger cut of the sale price.

But in this case, the seller didn't want to guarantor. Large Thin Head was being sold by a foundation tied to the late real estate tycoon Sheldon Solo. And the Solo family was feeling confident.

But in this case, the seller didn't want to guarantor. Large Thin Head was being sold by a foundation tied to the late real estate tycoon Sheldon Solo. And the Solo family was feeling confident.

But in this case, the seller didn't want to guarantor. Large Thin Head was being sold by a foundation tied to the late real estate tycoon Sheldon Solo. And the Solo family was feeling confident.

Which brings us to Tuesday night and that packed auction room. The auctioneer started the bidding at $59 million.