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.

Note: Counted 10 artworks from the lot of 83 failed to sell, thereby breaking records for almost 18 artists starting from Yves Klein and Piero Manzoni to Tom Wesselmann and Takashi Murakami.

Via AP

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

Artist: Jeff Koons

Artwork: “New Hoover convertibles, New Shelton Wet/Drys 5-Gallon, Double Decker”
Auction House: Christie’s
Sales: Christie’s post-war and contemporary sales
Ballpark Figure: $10 million
Date: 13 May

Artist: Monet

Artwork: “Le Pont du Cheminde Fer � Argenteuil,” 1873

Auction House: Christie’s
Ballpark Figure:$35 million
Date: 6 May

Artist: Edvard Munch

Artwork: “Girls on a Bridge,” a 1902 oil canvas painting
Auction House: Sothey’s New York Impressionist and Modern Art – Part I auction
Ballpark Figure: $28 million
Date: 7 May
Artist: Alberto Giacometti

Artwork: “Grande Femme Debout II,” 1959-60
Auction House: Christie’s
Ballpark Figure: $18 million
Date: 13 May
Artist: Henri Matisse, French painter

Artwork: “Portrait au mateau bleu”
Auction House: Christie’s Spring Impressionist and Modern sales
Ballpark Figure: $17 million
Date: 6 May
Artist: Pierre Patel the Elder

Artwork: ‘A landscape at Evening with Travelers’ and a Hunter Near Classical Ruins’ painted around 1640
Auction House: Sotheby’s London
Ballpark Figure: $800,000-$1.2 million
Date: 9 July

Via NYT