Louise Bourgeois’ iconic “Spider” sculpture is expected to set records when it goes under the hammer at Sotheby’s New York next month. The work, titled Spider (1996), is predicted to sell for between $30 million and $40 million. If it reaches the low estimate, it will break the artist’s current auction record of $28 million (without fees), which was set by another Spider sculpture at Christie’s in May 2019.
The sculpture, which stands at an impressive ten-foot-tall and 18 feet wide, is expected to attract significant interest from collectors, art enthusiasts, and investors worldwide. It is a standout piece from Bourgeois’ acclaimed series of spider sculptures, which she created to represent sensitive subjects, specifically motherhood.
“The spider—why the spider? Because my best friend was my mother and she was deliberate, clever, patient, soothing, reasonable, dainty, subtle, indispensable, neat, and as useful as a spider,” Bourgeois once said.
Spider (1996) was initially exhibited at the Bienal de São Paulo in 1996 and was subsequently acquired by Olavo Setubal, a collector, and cofounder of Brazilian bank Itaú Unibanco. It is now part of the collection of Fundação Itaú, the philanthropic wing of the bank.
The sculpture’s potential sale price could make it the most expensive work by a woman ever sold at auction if it sells at or above its high estimate. The current record is held by Georgia O’Keeffe’s painting Jimson Weed (1936), which was bought by Walmart heiress Alice Walton for $44.4 million (without fees) in 2014.
Bourgeois’ spider sculptures have become a global icon and are on display in public spaces worldwide. They have been acquired by leading cultural institutions such as the Guggenheim Museum in Bilbao, the Dia Art Foundation in New York, the National Gallery of Canada in Ottawa, and Tate Modern in London.
“The Spider has taken on a larger symbolic presence within contemporary culture internationally,” said David Galperin, Sotheby’s head of contemporary art in New York. “It is not only a paragon of modern sculpture but has become a global icon, recognizable by all given its prominent presence in cultural institutions around the world.”
The upcoming sale of Spider (1996) is expected to draw a significant audience, and it will be interesting to see if the work achieves its estimated sale price and sets new records for Louise Bourgeois and female artists. The auction is set to take place in Sotheby’s New York next month.