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John Craxton's Chandelier Bought for £250 Sells for £2.922 Million
Sentiment: NeutralHigh Priority
What Happened?
A chandelier bought by artist John Craxton for £250 in the 1960s sold for £2.922 million at Christie's in 2023. The piece, created by Alberto Giacometti, remained in Craxton's family until his death in 2009.
Key points
- The chandelier, titled 'Chandelier for Peter Watson', was sold at Christie's London auction on February 28, 2023.
- Craxton recognized the chandelier as Giacometti's work despite it being listed as unknown in the shop.
- The chandelier was commissioned by Peter Watson for the offices of Horizon magazine in the late 1940s.
- Before the auction, its authenticity was confirmed by the Fondation Giacometti in Paris.
- The UK government announced a temporary export deferral for the chandelier to allow a British institution to acquire it.
Key insights
- The chandelier's sale price reflects the growing interest in unique art pieces with historical significance.
- This event may encourage more collectors to explore lesser-known works by renowned artists.
- The temporary export deferral indicates the UK government's recognition of the chandelier's cultural importance.
Why it matters
The chandelier's sale highlights the significant value of art and its historical connections.
Tags
Entities
John Craxton· PersonAlberto Giacometti· PersonChristie's· OrganizationHorizon· OrganizationPeter Watson· PersonUK· Country
Source
Times of India
