FRANCIS BACON 1909 – 1992 THREE STUDIES FOR A SELF-PORTRAIT signed, titled and dated 1980. (Click on image to enlarge). UPDATE: THIS MADE £13,761,250.
Francis Bacon’s Three Studies for a Self-Portrait will headline Sotheby’s evening auction of contemporary art in London next February 12. Dating from 1980, when Bacon was 71, the work is part of a corpus of 11 small scale triptych self-portraits in the artist’s standard 14 by 12 inch format. Sales of contemporary art at Sotheby’s in 2012 totalled $1.25 billion, making it the third most successful year ever for contemporary art. Dealers note that wealthy individuals who are concerned about the wider economy are turning to contemporary art as an alternative investment. Gold standard names have been making record prices. The Bacon is estimated at £10-15 million.
Another headline work in the sale, an untitled piece by Jean Michel Basquiat, was previously in the collection of U2. It is estimated at £7-9 million. The evening auction, which features outstanding works by Gerhard Richter, Alexander Calder, Mark Rothko, Lucio Fontana and others, comprises 56 lots. It is estimated to make more than £63 million.
UPDATE: THE SALE BROUGHT IN £74,364,200.
GERHARD RICHTER b.1932 WOLKE (CLOUD). (£7-9 million). (Click on image to enlarge). UPDATE: THIS MADE £7,601,250
JEAN-MICHEL BASQUIAT 1960 – 1988 UNTITLED (PECHO/OREJA) (£7-9 million). (Click on image to enlarge). UPDATE: THIS MADE £6,817,250
ALEXANDER CALDER 1898 – 1976 THE RED BASE (£500,000-700,000). Click on image to enlarge. UPDATE: THIS MADE £690,850.