Walking Man Sculpture Walks Out Of Bank Collection

Corporate art collections are falling right and left and some pricey pieces are hitting the market. Next month, Sotheby's London will auction off a Giacometti sculpture, L'Homme Qui Marche, that was once part of the corporate collection of Germany's Dresdner Bank. Commerzbank acquired the piece when it took over Dresdner Bank last year.

The sculpture is estimated at £12-18 million and is part of the Impressionist and Modern Art Evening Sale on February 3. Wealth Bulletin reports that proceeds from the sale will benefit both Commerzbank and selected German museums. Other works formerly in the collection of Dresdner Bank will be placed on permanent loan with museums in Frankfurt, Dresden and Berlin.

The sculpture was executed in 1960 and cast in bronze in a numbered edition of 6 plus 4 artist's proofs. This one was cast in 1961 and is inscribed Alberto Giacometti and numbered 2/6 and with the foundry mark Susse Fondeur Paris. Giacometti's "L'Homme Qui Chavire" made the list of top pieces sold in 2009 in the ninth position with a price of $19.4 million.