Francis Bacon Painting Sells For Record $142 Million At Christie’s Auction

A member of Christie’s staff walks towards Francis Bacon’s “Three Studies of Lucien Freud” on Oct. 14, 2013 in London, England. (credit: Getty Images)

A member of Christie’s staff walks towards Francis Bacon’s “Three Studies of Lucien Freud” on Oct. 14, 2013 in London. (credit: Getty Images)

Bidder Not Revealed

CBS NewYork/AP There’s a new record-setting piece of art. A 1969 painting by Francis Bacon set a world record for most expensive artwork ever sold at auction.

“Three Studies of Lucian Freud” was purchased for $142.4 million at Christie’s postwar and contemporary art sale on Tuesday night. The triptych depicts Bacon’s artist friend.

The work sold after “six minutes of fierce bidding in the room and on the phone,” Christie’s said in a statement. The price includes the buyer’s premium. Christie’s did not say who bought the painting.

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Andy Warhol Art Set To Fetch Millions

A polaroid self-portrait by U.S. artist Andy Warhol, stamped with his name, is displayed at Sotheby's Hong Kong Gallery September 11, 2013. More than 40 works by pop artist Andy Warhol will be displayed at an exhibition hosted by the auction house Sotheby's in Hong Kong, with the most expensive piece valued at about $1 million. REUTERS/Bobby Yip (CHINA - Tags: ENTERTAINMENT SOCIETY)

REUTERS/Bobby Yip

More than 40 artworks by Andy Warhol are to be auctioned at Sotheby’s in Hong Kong, with the most expensive piece expected to fetch around $1m (£633,000).

The collection, From Warhol With Love, features the late pop artist’s ink-on-paper work from the 1950s.

Warhol travelled to Hong Kong in 1956, and according to Jacqueline Wachter of Sotheby’s New York the trip inspired some of the gold and butterfly themes in the exhibition. Read the rest of this entry »


Zhang Daqian’s ‘Lotus’ Sells for $10.4 Million

By Jason Chow

A set of four hanging scrolls by 20th-century Chinese ink painter Zhang Daqian sold for $10.4 million, more than five times its pre-sale estimate, at a Christie’s auction in Hong Kong on Tuesday afternoon.

Titled “Lotus,” the four large paper scrolls – each more than five feet high and 2.5 feet wide – depict lotus flowers in various state of bloom. Completed in 1947, the work was estimated to achieve $1.9 million, but brisk bidding in the room pushed the price far above that figure before going to an Asian private buyer.

In 2011, Mr. Zhang was the top-selling artist in the world at auction, but sales of his works fell to $241.6 million in 2012 from $782.4 million the year before. As a result, the artist’s sales ranking dropped to No. 4 after Andy Warhol, Pablo Picasso and Gerhard Richter, according to figures compiled by Artnet.

Sales of Mr. Zhang’s works are once again going strong. On Monday night, Sotheby’s sold 25 works by the artist for $42 million at a sale in Hong Kong. The most expensive work sold was “Daoist Goddess Playing Panpipe,” a 1955 painting that fetched $9.5 million.

via Scene Asia – WSJ.