Francis Bacon Market Down 80% Since 2014 Peak

Despite Francis Bacon's enduring popularity, his auction market has declined 80% from its 2014 peak of $306 million in annual sales. The artist's record remains the $142.4 million paid for Three Studies of Lucian Freud (1969) at Christie's New York in 2013. Recent results include Triptych Inspired by the Oresteia of Aeschylus (1981) selling for $84.6 million at Sotheby's in 2020, and Pope with Owls (1958) achieving $33 million at Phillips New York in 2021, near its low estimate. The current Royal Academy of Arts retrospective 'Francis Bacon: Man and Beast' in London, featuring the previously unseen Study of a Bull (1991), may boost market interest. Phillips' Robert Manly attributes the slowdown not to changing taste but to collectors diversifying and a lack of iconic works available.