Despite the ongoing financial downturn Albertot Giacometti's L'Homme qui marche 1 sold at Sotheby's last week for a world record £65 million.

This shows the ongoing desire among connoisseurs to seek out and buy the very best and their desire for a safe haven for their cash. This same sculpture sold 10 years ago for 'only' £10 million which shows the rate of return that can be garnered by investing in the very best artworks.

The buyer of L'Homme qui marche 1 is still shrouded in mystery. However the buyer is probably one of the top 10 collectors of modern and contemporary art according to The Daily Telegraph. Potential buyers include Francois Pinault, Roman Abramovich and Ronald Lauder.

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February 11, 2010 — Peter Alexander