A three-panel art work by Francis Bacon lately got success in breaking the NYC auction record at contemporary art auction on 14 May. It fetched in sales of $86 million plus after three bidders contended for it. The $86,281,000 price of the masterwork “Triptych, 1976” also set an auction record for the British artist. Another artwork that set an auction record is a 1963 painting “Overdrive” by pop artist Robert Rauschenberg. The painting generated sales of $14.6 million plus. Both the artworks got sold to an anonymous buyer and the aforementioned prices include the commission of the auction house.

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One can’t assist but speculate number of nattily decent citizens sitting countless nights at International auction houses viz. Sotheby’s, Christie’s and Phillips de Pury in coming next two weeks. A good percentage could be of serious bidders and others would be voyeurs eager to observe an implosion of $$$$ art market. It’s now being years that collectors and media have been waiting for the day when prices would finally top. But this time auction houses are hopeful that time will take a toll and things will play out well as they did three months ago in London, when, in spite of global economic nausea, a Francis Bacon triptych painting fetched $51.6 million.

Some highlights of the upcoming auctions:

Artist: Francis Bacon

Artwork: “Three Studies for Self-Portrait,’’ Triptych 1976
Auction House: Christie’s
Ballpark Figure: $25 million and $35 million

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