Andy Warhol was the top-selling artist at auction in the past year as increased competition for the most-expensive segment of the market drove global art sales higher.

Collectors bought 1,295 works by the deceased artist totaling $653.2 million, ahead of sales for Pablo Picasso and Francis Bacon, according to preliminary figures by New York-based researcher Artnet. Auctions worldwide rose 10 percent to $16 billion.

Art sales have more than doubled from $6.3 billion in 2009, as surging financial markets lifted the fortunes of the world’s richest.