An insurance company has paid the Zurich Kunsthaus SFr1.65 million ($1.77 million) after a sculpture by Alberto Giacometti was damaged in Russia.
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“La Forêt” was sent to the Hermitage Museum in St Petersburg on loan in 2008, but one of the work’s lean bronze figures was damaged during transport, the Tages-Anzeiger newspaper reported on Wednesday.
The sculpture – the fourth in an edition of six – was cast in 1950. The Kunsthaus acquired it for $13.2 million at a Christie’s auction in New York ten years ago.
The upside: thanks to the insurance money, the museum was able to end the 2010 financial year in the black – leaving it with a surplus of SFr450,000.
The sculpture has since been repaired and, according to the report, the average viewer would never suspect a thing. It is currently back on display in Zurich.
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