(ARTNET) – A rare chandelier by Alberto Giacometti could fetch up to $3 million at an upcoming Christie’s London sale – a big mark up from the £250 ($700) the owner paid for it back in the 1960s.
The buyer, British painter John Craxton, was pretty sure what he was getting when he spotted the work in a store window on London’s Marylebone Road. He recognized the lighting fixture as the one commissioned by his late friend Peter Watson, an art collector.
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“Peter Watson came into his fortune when he was quite young, after his father died, so he had the freedom to explore what he was very passionate about, which was art and literature,” Michelle McMullan, a senior specialist in Impressionist and Modern art at Christie’s London, told Artnet News.
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