Bacon painting fetches $86M at auction

NEW YORK, May 16 (UPI) -- A 1976 triptych by late Irish-born painter Francis Bacon reportedly was sold for a record $86.3 million at Sotheby's in New York.

The price is the highest ever paid for a contemporary work of art sold at auction, The New York Times said.

The work is comprised of three panels, each measuring about 6 1/2 feet by 5 feet.

The Times said three telephone bidders competed for the painting, which was being sold by the Moueix family, producers of Chateau Petrus wines. The Times didn't name the winning bidder.

Sotheby's had estimated the allegorical triptych, which was the artist's commentary on his own angst, would sell for $70 million, the newspaper said.

The final selling price includes the auction house's commission, which estimates don't reflect.