Bacon Triptych Auctioned for record $86 Million


	Bacon Triptych Auctioned for record $86 Million

MHacker

5-15-2008 12:48 PM

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MHacker says:

Conspicuous consumption during a recession.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/34273d70-da6d-470a-b549-3820171ec13c/A91362AB-BC39-456E-A8C4-C57D24B23B3F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/05/15/arts/design/15auction.html?th&emc=th" href="http://www.nytimes.com/2008/05/15/arts/design/15auction.html?th&emc=th" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/15/arts/design/15auction.html?th&emc=th"><P>A 1976 triptych by <A title="More articles about Francis Bacon" href="http://topics.nytimes.com/top/reference/timestopics/people/b/francis_bacon/index.html?inline=nyt-per">Francis Bacon</A> brought $86.3 million on Wednesday night at Sotheby’s, becoming the most expensive work of contemporary art ever sold at auction and a retort to doomsayers who had predicted that the art market would falter seriously this season because of broad economic anxieties.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/15/arts/design/15auction.html?th&emc=th"><P>“Recession? What recession?” Barbara Gladstone, a Chelsea dealer, said jokingly as she was leaving the salesroom. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/15/arts/design/15auction.html?th&emc=th"><P>Abstract images have been strong sellers in general this week. <A title="More articles about Gerhard Richter." href="http://topics.nytimes.com/top/reference/timestopics/people/r/gerhard_richter/index.html?inline=nyt-per">Gerhard Richter</A>’s “Abstract Picture” from 1990, a dreamy canvas of yellows, violets, blues and orange, went for $15.1 million, far above its $5 million to $7 million estimate. The buyer was yet another mystery telephone bidder.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/15/arts/design/15auction.html?th&emc=th"><P>After the sale, as the crowds were milling around talking about the evening, everyone seemed stunned by the large sums of money that were spent. “I don’t understand why it did so well if the economy was mediocre,” said Mr. Mugrabi. “Maybe people feel safer with art.” </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A91362AB-BC39-456E-A8C4-C57D24B23B3F/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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