The Giacometti debacle.

THISSSSSSSSSSSSSSSSSSS was just sold by Sotheby's for $104.3 million Australian.
6 foot tall, pure bronze and the "faceless" man which appeared to haunt Giacometti for the last years of his life.
I know nothing much about the artist or his work. But this is an interesting amount for an interesting piece, paid at an interesting point in time. The humanist in me finds the amount grotesque at a time of such global devastation (how much could that have done in Haiti??). The art student in me insists on looking on in amazement, as one would look at a car crash.
What do you think?