Back to top

Real Time Insight

Art prices continue to hit record highs as Francis Bacon's "Three Studies of a Lucien Freud" was sold at auction at Christie's on Tuesday for $142.4 million, an all-time high for a single artwork.

The 1969 triptych had never been offered at auction before and had a pre-auction estimate of about $85 million. The most expensive previous Bacon painting had sold in 2008 for $86.3 million.

It sold within six minutes. The buyer remains anonymous.

You may recall that the prior record was set in 2012 when Edvard Munch's "The Scream" was sold in a Sotheby's auction for $120 million.

Not to be outdone, at the same auction, which was a sale of a group of contemporary works, a sculpture by Jeff Koons brought a new record for a living artist.

Balloon Dog (Orange), a 10-foot stainless steel sculpture looking like a child's party balloon, sold for $58.4 million to an unknown buyer. It is part of a group of 5 Balloon Dog sculptures.

There was also a Warhol, Coca Cola (3), which sold for $57.2 million, but that was not a record for a Warhol, however. The Warhol record was set in 2007 when one sold for $71.7 million.

A total of $691.5 million was brought in at the auction on Tuesday, a single day auction record.

For several years, art experts have been warning of a bubble in the art market yet prices continue to go higher.

Is the art market signaling a top as the rich pay ever higher prices for assets including real estate and stocks?


Just Released: 5 Stocks to Double

Today, you are invited to download a free Special Report from Zacks Investment Research. It reveals five moves that could gain +100% and more in the next 12 months:

One is a "boring" business delivering blistering growth. Another is a red-hot oil and gas producer set to surge on a drilling breakthrough. Still another, an online payment provider, ignited a 53% sales explosion during the past year.

Close This Panel X

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
SUPER MICRO… SMCI 26.06 +6.41%
STRATTEC SE… STRT 85.29 +6.29%
CENTURY ALU… CENX 26.13 +4.60%
UNITED CONT… UAL 49.24 +3.42%
BAIDU ADS BIDU 220.68 +2.87%