On November 12, Christie’s Evening Sale of Post-War and Contemporary Art in New York achieved an unprecedented $691,583,000 – the highest total for any auction in art market history. The top lot was Francis Bacon’s triptych, Three Studies of Lucian Freud, which garnered $142,405,000, a world record for any artwork ever sold at auction.
The highly anticipated painting, which was was expected to sell for $85 million to $95 million, portrays Lucien Freud, Bacon’s friend and fellow artist. Executed in 1969, the work is one of Bacon’s most important paintings and unites two of the most significant figurative artists of the 20th century.
The sale set ten new world auction record prices for Bacon, Jeff Koons, Christopher Wool, Lucio Fontana, Donald Judd, Wade Guyton, Vija Celmins, Ad Reinhardt, Willem de Kooning and Wayne Thiebaud. Three works sold for over $50 million, 16 went for above $10 million, and 56 works exceeded $1 million. In addition, Jeff Koons’ Balloon Dog (Orange) achieved $58,405,000, a new world auction record for a living artist and the most expensive contemporary sculpture ever sold.
Brett Gorvy, Chairman and International Head of Post-War and Contemporary Art at Christie’s, said, “We are thrilled to announce an historic total of $691.6 million 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. Collectors from 42 countries registered tonight with strong bidding from American, European and Asian collectors but also from institutions. The sale was heavily focused on icons and masterworks, achieving an astonishing 10 record prices and breaking the record for any work of art ever sold at auction. 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.”
