Conde Nast overseer Si Newhouse desperately put his Alberto Giacometti sculpture, "L'Homme Qui Chavire"—for which he'd paid $20 million— up for auction at Sotheby's yesterday. He was expected to lose $10 million on the sale. He got lucky.
The evening's top price went to Alberto Giacometti's 1950 bronze of a toppling man, "L'Homme Qui Chavire," which an Eastern European collector bidding over the telephone got for $19.3 million, well over its $12 million high estimate.
Macroeconomic win! Bring back Gourmet!