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Lucian Freud's portrait of Bacon fetches £5.4m

     London: A rare oil painting of artist Francis Bacon by his friend Lucian Freud has been sold for 5.4 million pounds at an auction, significantly less than expected. However, the unfinished work by Freud was estimated to rake in 7 million pounds when it went under the hammer at Christie's in London. With financial crisis engulfing the world economy, it is the second disappointing price for a major contemporary work in recent days, reports the Telegraph. Freud's painting of an overweight JobCentre worker asleep on a sofa sold for a record 19.1 million pounds in New York in May. Freud and Bacon, both British painters, were friends for many years until the latter's death in 1992. The portrait was completed in 1967 and had been owned by a private collector since 1972. It was sold for 5,417, 250.
-Oct 20, 2008

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