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The auction house had estimated the monumental three-canvas painting at about US$70 million but two determined telephone bidders drove up the price. -- PHOTO: AP
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NEW YORK - A NEW record was set for post-war art at auction on Wednesday when Francis Bacon's 'Triptych, 1976' sold for US$86 million (S$119 million) at Sotheby's.
The auction house had estimated the monumental three-canvas painting at about US$70 million but two determined telephone bidders drove up the price to US$86,281,000, including Sotheby's commission.
The previous record for a work by the Irish-born Bacon was US$52.68 million, also set last year. The triptych that set the record on Wednesday, executed in 1976, had remained in the same European collection since its purchase in 1977.
The previous record for post-war or contemporary art was held by Mark Rothko's 'White Center (Yellow, Pink and Lavender on Rose)' that sold for US$72.84 million at Sotheby's a year ago.
Ironically, the most recent sale's other star lot - Rothko's 'Orange, Red, Yellow' - went unsold, despite expectations it would command more than US$35 million. -- REUTERS
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