You’d think a high-stakes New York art auction featuring a world-famous sculptor’s work would end in a bidding war, right? But at Sotheby’s this week, things took a dramatic—and surprisingly awkward—turn when one of the most hyped pieces of the night completely flopped.
A Crowd of Billionaires, But No Bids
The room was packed with elite collectors and billionaires on Tuesday, all hoping to snap up works by legends like Picasso, Monet, or Matisse.
But the spotlight was on a single star: Alberto Giacometti’s 1955 bronze sculpture, Grand tête mince—which translates to “Big Thin Head.”
With a hefty price guide of $70 million, it was supposed to be the crown jewel of the evening.
The Bidding Starts… and Then, Silence
Auctioneer Oliver Barker opened bidding at $59 million, and then—nothing.
The room fell into an eerie silence.
Phones came out, whispers spread, but no one raised a paddle.
As Barker nervously scanned the room for interest, The New York Times later described his tense body language as almost “Nosferatu-like.”
The Chandelier Bid Gamble
Trying to spark energy, Barker turned to chandelier bidding—an old auctioneer’s trick where they fake bids to generate buzz.
But even that didn’t work.
The bidding stalled at $64.25 million, which still fell short—about 9% under the expected price.
Eventually, Barker had no choice but to pull the statue from sale, visibly defeated.
Gasps and Fallout
The moment was so shocking that it sent audible gasps through the room.
According to both The Art Newspaper and The New York Times, it was like watching a legend fall from grace in real time.
The Times even said “a pall came over the entire salesroom.”
Ouch.
It wasn’t just about prestige either—the failed sale hit Sotheby’s bottom line.
The sculpture made up nearly 30% of the event’s expected low total of $240.3 million.