Giacometti portrait sells for $33M at NYC auction - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Giacometti portrait sells for $33M at NYC auction

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NEW YORK (AP) - A 1954 portrait by Alberto Giacometti of his brother has set a new auction record for a painting by the Swiss artist.

"Diego in plaid shirt" sold for $32.6 million at Christie's impressionist and modern art sale Tuesday evening. It came within the pre-sale estimate of $30 million to $50 million.

The painting has been in a private collection for more than two decades and had never appeared at auction.

Giacometti's brother was the artist's most frequent subject.

The previous auction record for a painting by Giacometti was "Portrait of Caroline," painted in 1964. It sold for $14.6 million in 2008.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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