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Painting sold for $142.5M after frenzied bidding

  • Rich art lovers toppled records at an art auction in New York City this week. The auction stands at $691.5M, holding the record of being the most expensive one. 

    A big chunk of this money actually came from only one painting: 'Three Studies of Lucian Freud' was finally sold after a six-minute-long crazy bidding. The artwork was sold for $142.5 and broke last year's record set by 'The Scream,' which fetched 120M. 

    A disappointed gallery director said he was "expecting it to go for around $87M" and hopes to have another chance. 

    Jeff Koon's sculpture was sold for $58.4M, which is a world record for a present day living artist. 

    Tagged as: art auction, new york city art auction, three studies of lucian freud, money news, business news