13 12
KEY
TAKE
AWAY
Price
Volume
Average sales price
• Bacon’s market peaked in 2007-2008 and in 2013-2015.
• During the 2020 economic recession, his market proved remarkably resilient (Fig. 3).
• The year 2022 showed the highest annual sales revenue since previous market peaks.
Total Sales
Revenue at Auction
$3.2 B
*
135
Lots sold
148
Lots offered
91.2 %
Sell-through
rate
$24.1M
Average
price
6.7%
Average
CAGR
44
Repeat sales
20.8 %
**
Price to
mid-estimate
ratio
55 %
**
Lots sold
above
mid-estimate
FIG 2. Study of Red Pope, 1962, Second Version (1971)
sold in 2022, and its actualised price today is $47.3M
FIG 3 Triptych Inspired by the Oresteia of Aeschylus 1981 sold in 2020 and ranks fourth in Bacons most expensive
artworks by actualised price at 984M
FIG 1. Second Version of Study for Bullfight No.1 (1969)
sold in 2007, and its actualised price today is $65.5M
This total is the sum of all the auction sales prices achieved over the period 20032022 in actualised prices
Considering 109 lots carrying presale estimates
5M50M
30M300M
10M
4
100M
35M
14
350M
15M
6
150M
40M
16
400M
20M
8
200M
$45M
18
$450M
25M
10
250M
2
12
2 0 1 5 2 0 1 6 2 0 1 8 2 0 2 0 2 0 2 2 2 0 0 3 2 0 0 4 2 0 0 6 2 0 0 8 2 0 1 0 2 0 1 2 2 0 1 7 2 0 0 5 2 0 1 9 2 0 0 7 2 0 2 1 2 0 0 9 2 0 1 1 2 0 1 3 2 0 1 4
Auction sales (YoY)
O F B ACO N’S AU C T I O N M A R K E T (2 0 0 3-2 0 2 2)
General
Overview
Auction Market Global Analysis
Lots sold above high estimate Lots sold within their estimates Lots sold below
their estimates
35.8%9.2%55%