CHRISTIE’S – LONDON UPDATE: FRANCIS BACON “TRYPTYCH” SELLS FOR £26.3 MILLION

February 7th, 2008

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“Triptych 1974-77″ via The New York Times

Last night Francis Bacon’s “Triptych 1974-77,” post war impressionist painting, was sold for £26.3 million at Christie’s International’s London Auction House. Christie’s sold the Triptych at their Post War Art Evening Sale, which did not do as well as Sotheby’s Modern and Impressionist Art Sale the previous night. The sale was the equivalent of $46.1 million dollars, after fees, and fell just under the presale estimate of $50 million to $70 million.

Bacon Fetches $51.1 Million; Demand Weakens in Christie’s Sale [Bloomberg]
Post-War & Contemporary Art Evening Sale [Christie’s]
Bacon’s homage to dead lover sells for £26m [The Independant]
Triptych by Francis Bacon Is Sold for $46.1 Million [The New York Times]

details of auction after the jump

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“Triptych 1974-77″

It is rumored that Bacon had painted the Triptych in response to the suicide of his lover George Dyer, which has added mystic to the painting’s provenance. The work was up for bid by an anonymous collector and had sparked the interest of three competing bidders. The winning bid was won by Andy Cohen, a jewelry dealer in Geneva. Cohen is thought to have been acting on behalf of a third party.

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“Triptych 1974-77″

The evening Sale totaled $72.9 million including fees. Pilar Ordovas, head of Christie’s contemporary-art department in London, declared the results as an “incredibly solid success” in this post sale press realease