Sotheby's estimate that Triptych, created by the late Francis Bacon would fetch $70 million was surpassed by over $16 million. The sale of Triptych became, â€œthe most expensive work of contemporary art ever sold at auction and a retort to doom-sayers who had predicted that the art market would falter seriously this season because of broad economic anxieties,â€ said Carol Vogel, New York Times' Art & Design writer.
Triptych, painted in 1976, was hailed by Sotheby's as â€œa landmark of the 20th-century canon.â€ The piece is not slight, it consists of three 78â€ x 58â€ oil on canvas panels.
Bacon seems to be the current hot commodity in the art community these days â€" nine of his paintings have each sold for over $25 million during the past year.
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