This antique find received the reappraisal of a lifetime.
British painter John Craxton bought a chandelier from an antique store for only 250 pounds (roughly $300) in 1960.
Fast forward to the present, the same chandelier now has an estimated value between $1.9 million and $3.7 million.
It will become part of auction houseAuction HouseAn auction house is an institution that facilitates the sale of art, jewelry, and collectibles through competitive bidding, often setting market benchmarks for value. In the Philippines, major auction resultsGo to Auction House Glossary Christie’s “20th/21st Century: London Evening Sale” on February 28.
The plot twist was that Craxton recognized the work as Swiss artist Alberto Giacometti’s at the time of purchase.
Previously, another Giacometti chandelier similarly fetched over $9 million in 2018.
“I just think it’s a great combination of Giacometti’s sculptural language. Combined with the refinement of his works in design,” Christie’s senior specialist and head of the 20th-century evening sales Michelle McMullan told CNN.
Banner Photo by Christie’s Images Ltd. 2023.
