Culture & Entertainment · India Bureau
Giacometti chandelier bought for £250 fetches £2.9m at auction
A decorative chandelier created by renowned sculptor Alberto Giacometti has sold for £2.922 million at Christie's, more than 11,000 times its original purchase price. The piece, acquired for just £250 in the 1960s by British artist John Craxton, remained with his family for decades before going under the hammer in February 2023.
LSN India ·
The striking chandelier, originally commissioned by prominent art patron Peter Watson for the literary magazine Horizon, represents a rare venture into decorative arts by the acclaimed Swiss sculptor. Horizon, a publication known for championing avant-garde writing, counted among its contributors many of the twentieth century's most celebrated authors. The magazine's cultural significance added considerable historical weight to the sale. The piece remained in Craxton's possession throughout his lifetime, a testament to the artist's appreciation for contemporary sculptural design. Following his death, the family decided to bring the work to auction, where it attracted significant international interest from collectors and institutions alike. Before reaching the sale block, the chandelier underwent rigorous authentication procedures, with specialists confirming its provenance and historical importance. The dramatic appreciation in value—from £250 to nearly £3 million—underscores the enduring appeal of Giacometti's work across different artistic disciplines. While best known for his distinctive elongated bronze figures, Giacometti's foray into functional design demonstrated his versatility and continued relevance to collectors worldwide.