James Tomilson Hill, the Blackstone Group LP vice chairman who runs the company’s $58 billion hedge- fund business, has emerged as a billionaire as the world’s largest private-equity firm and his art collection have surged in value.
Francis Bacon’s painting of his lover fetched 42.2 million pounds ($70.3 million) yesterday, boosting Christie’s evening sale of postwar and contemporary art in London.
There were several astonishing aspects to the sale of “Three Studies of Lucian Freud’’ by Francis Bacon at Christie’s International in New York.
The priciest segment of the art market surged to record highs in 2013 amid demand from established collectors and wealthy new buyers from emerging- market economies.
A 1963 female nude by Francis Bacon may raise as much as $30 million at an auction next month.
"Study for Head of Lucian."
- Francis Bacon on Jul 01, 2014