Christie’s Breaks Art Auction Record with Francis Bacon Painting – artmarketblog.com
Christie’s New York has set a new world record for the most valuable work of art ever sold at auction with Francis Bacon’s “Three Studies of Lucien Freud” which the auction house sold for US$142.4 million during their November 12 Post-War and Contemporary Art evening sale.
The sale also set a new world record for the highest sale total in art market history of US$691.6 million, smashing the previous record of US$495 million which was achieved by Christie’s during their May 15, 2013 Post-War and Contemporary Art sale.
As if setting the above two records wasn’t enough, Christie’s also achieved a new world record for a work sold at auction by a living artist, selling one of Jeff Koon’s iconic balloon dog sculptures, “Balloon Dog (Orange),” for US$58.4 million.
According to Brett Gorvy, Chairman and International Head of Post-War and Contemporary Art, the sale attracted bidders from 42 countries and saw strong bidding from institutions as well as collectors from Europe, America, and Asia.
“We are thrilled to announce an historic total of for this evening’s sale of Post-War and Contemporary Art. It is the second time this year that Christie’s has broken the highest total in auction history,” said Mr. Gorvy.
“Beyond the records, 10,000 art lovers flocked to Christie’s galleries in the last week to engage with and enjoy the remarkable selection of artworks on display.”
*Nicholas Forrest is a Sydney/London based art market analyst, art consultant and writer. He is the founder of the Art Market Blog (artmarketblog.com) which offers independent commentaries as well as research and analysis on the current art market, and has recently been published in Fabrik magazine, Verve magazine, Visual Art Beat magazine, Australian Art Collector magazine, Art & Investment magazine and many others. Nic has made several radio appearances (both nationally and internationally) as an art market expert and has received press from the likes of the New York Times, Conde Nast Portfolio and Times of London.
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