Giacometti's Cat Could Fetch Millions

The big spring art sales in New York are still a couple of months away but the stories related to big lots are starting to appear. Fans of the spare bronzes of Alberto Giacometti may want to save their pennies for the stripped down kitty shown above. Alberto Giacometti's Le Chat is one of eight bronze cats cast in 1951. It will be auctioned by Sotheby's on May 5.

The NY Times reports that a Giacometti cat sculpture hasn't been offered at public auction in over 30 years. The last one sold for $130,000 at Sotheby's in New York in 1975. Sotheby's estimates that its cat, which has been in the hands of a European collector since the 1960s, could bring $16 million to $22 million.