Francis Bacon painting sells for record $142.4 million in New York

November 13, 2013

Francis_Bacon

New York, Nov 13: Francis Bacon's three-paneled painting " Three Studies of Lucian Freud" became the most expensive work of art ever sold at auction on Tuesday when it soared to $142.4 million at Christie's.

The 1969 triptych, never before offered at auction and which carried a pre-sale estimate of about $85 million, easily eclipsed the $119.9 million price of Edvard Munch's "The Scream," achieved in May of last year at Sotheby's. The previous record for a Bacon work of art was $86.3 million set in 2008.

The monumental painting depicts the Dublin-born painter's friend and fellow artist Lucian Freud on a chair, with a view from each side and one face-on. Christie's called it "a true masterpiece that marks Bacon and Freud's relationship" and their "creative and emotional kinship."

With bidding starting at a whopping $80 million, it sold after a protracted bidding war both in the packed New York salesroom and via telephone. Christie's did not disclose the identity of the successful buyer.

"Three Studies of Lucian Freud" is also one of only two existing full-length triptychs of Freud, a grandson of the founder of psychoanalysis Sigmund Freud, and the three panels were separated for 15 years in the 1970s before being reunited, Christie's said.

The auction also set another significant record, for a price achieved at auction by any living artist, when Jeff Koons's large sculpture, "Balloon Dog (Orange)," fetched $58.4 million, beating the high pre-sale estimate and smashing the old mark for a living artist of $37.1 million set by Gerhard Richter's "Domplatz, Mailand (Cathedral Square, Milan)" earlier this year.

Auction officials have said that new, deep-pocketed collectors from around the globe are driving prices for top-tier works to record levels.

At a recent preview, Christie's head of postwar and contemporary art, Brett Gorvy, noted that collectors from Asia, Russia and the Mideast flush with cash were determined to assemble world-class collections featuring trophy works.

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News Network
May 9,2020

Beijing, May 9: Mounting a strong defence of the ruling Communist Party of China, President Xi Jinping has said the COVID-19 fight has once again shown that the CPC leadership and the country's socialist political system can overcome any challenge.

Xi's comments came as China faced global criticism for its initial inaction to act against the novel coronavirus, which according to Chinese officials emerged in the central Chinese city of Wuhan in December last year.

Pressure is also mounting on Beijing to agree for an international probe on the origins of the vicious virus, including from the Wuhan Institute of Virology (WIV), as claimed by the US leadership.

China curbed the spread of the coronavirus in over a month and brought COVID-19 under control at its first epicentre in Wuhan in about three months, Xi, also the General Secretary of the CPC, said at a symposium held on Friday to get suggestions from non-ruling Communist Party of China (CPC) parties on COVID-19 prevention and control.

He termed the curbing of the COVID-19 pandemic as "hard-won achievements" for the world's most populous country and the second-biggest economy.

The COVID-19 fight has once again shown that the CPC leadership, China's socialist system and its governance system can overcome any challenge and make big contributions to the progress of human civilisation, he said.

Xi said China had basically curbed the spread of the virus in over one month, managed to bring the daily number of new domestically-transmitted cases down to single digits in about two months, and secured decisive achievements in protecting epicentres Wuhan and Hubei province in about three months.

"For a huge country with 1.4 billion people, these are hard-won achievements," he said

Besides the top CPC officials, the symposium was attended by members of the central committees of non-CPC parties in China, the All-China Federation of Industry and Commerce, and persons without party affiliation.

The speakers at the symposium praised the Chinese leadership in handling the crisis, saying it fully demonstrated the political advantage of China's socialist system and showed that China was a major responsible country.

Xi, who is also the head of the People's Liberation Army, praised China's one-party political system governed by the CPC.

His comments on the country's political system came as Beijing is also defending the role of the CPC as US President Donald Trump and Secretary of State Mike Pompeo have blamed the ruling party for not being transparent in the fight against the pandemic.

Both Trump and Pompeo have been pressing Beijing to allow American experts for a probe on whether the virus emerged from the WIV, China's premier research lab where viruses of different types are reportedly researched.

At the symposium attended by the top CPC officials, Xi's leadership came for praise for successfully handling the situation, the state-run Xinhua news agency reported.

"Attendees noted the major strategic achievements in the COVID-19 fight under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core," the report said.

The meeting was held amid reports of murmurs of internal criticism within the CPC about Xi's handling of the coronavirus crisis.

While China's move of handling the coronavirus from January 23 by locking down Hubei province and its capital Wuhan to prevent the spread of the virus and curbing it by deploying 42000 medical personnel has been praised, Beijing is criticised for its slow reaction after it emerged in December last year.

China used less than a week to identify the full genome sequence of the novel coronavirus and isolate the virus strain, produced various testing kits and swiftly selected a number of effective drugs and treatments. Different types of vaccines have also entered clinical trials.

President Xi said during the COVID-19 fight, China upheld the centralised and unified leadership of the CPC and concentrated the nation's best doctors, the most advanced equipment and the most needed resources to treat patients, with all treatment expenses covered by the state.

It managed to maximise the testing and cure rates while minimising the infection and fatality rates.

As of Friday, the COVID-19 death toll in China remained at 4,633 with no new fatalities reported for several days while the total number of cases stood at 82,887. In contrast, Chinese officials point out the death toll in the US which has crossed 75,000 with over 1.2 million cases, besides the mounting global toll.

Almost all countries in the world have been under lockdown for weeks to control the spread of the virus.

Xi called for mobilising the whole society, leveraging the institutional strength of concentrating resources to get things done and tapping the composite national strength as well as closely relying on science and technology.

On international cooperation, Xi said China had helped countries and international organisations to the best of its ability, demonstrating the nation's sense of responsibility as a major and responsible country.

Xi also stressed fixing the shortcomings in the country's major epidemic prevention and control mechanism and for the national public health system to raise the ability to deal with major public health emergencies.

He emphasised on targeted and effective measures to guard against the importation of cases and prevent a resurgence of the epidemic.

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News Network
January 3,2020

Washington, Jan 3: US President Donald Trump ordered the killing of Iran Revolutionary Guards commander Qasem Soleimani, who died in Baghdad "in a decisive defensive action to protect US personnel abroad," the Pentagon said Thursday.

"General Soleimani was actively developing plans to attack American diplomats and service members in Iraq and throughout the region. General Soleimani and his Quds Force were responsible for the deaths of hundreds of American and coalition service members and the wounding of thousands more," the Department of Defense said.

Following Soleimani's death, Trump tweeted an image of the US flag without any further explanation.

"US' act of international terrorism, assassinating General Soleimani—the most effective force fighting Daesh (ISIS), Al Nusrah,Al Qaeda, is extremely dangerous & foolish escalation. US bears responsibility for all consequences of rogue adventurism." said Iran Foreign Minister Javad Zarif.

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Agencies
July 15,2020

Huawei will be completely removed from the UK's 5G networks by the end of 2027, the UK government announced on Tuesday after a review by the country's National Cyber Security Centre (NCSC) on the impact of US sanctions against the Chinese telecommunications giant.

In the lead up to this complete removal of all Huawei kit from UK networks, there will be a total ban on the purchase of any new 5G kit after December 31, 2020.

The decision was taken at a meeting of the UK's National Security Council (NSC) chaired by Prime Minister Boris Johnson, in response to new US sanctions against the telecom major imposed in May which removed the firm's access to products which have been built based on US semiconductor technology.

5G will be transformative for our country, but only if we have confidence in the security and resilience of the infrastructure it is built upon, said Oliver Dowden, UK Secretary of State for Digital, Culture, Media and Sport (DCMS).

Following US sanctions against Huawei and updated technical advice from our cyber experts, the government has decided it necessary to ban Huawei from our 5G networks. No new kit is to be added from January 2021, and UK 5G networks will be Huawei free by the end of 2027. This decisive move provides the industry with the clarity and certainty it needs to get on with delivering 5G across the UK, he said.

The minister, who laid out the details of the UK's ban on Huawei in the House of Commons, said the government will now seek to legislate with a new Telecoms Security Bill to put in place the powers necessary to implement the tough new telecoms security framework.

By the time of the next election (2024) we will have implemented in law an irreversible path for the complete removal of Huawei equipment from our 5G networks, said Dowden.

The new law will give the government the national security powers to impose these new controls on high risk vendors and create extensive security duties on network operators to drive up standards, DCMS said.

Technical experts at the NCSC reviewed the consequences of the US sanctions and concluded that Huawei will need to do a major reconfiguration of its supply chain as it will no longer have access to the technology on which it currently relies and there are no alternatives which we have sufficient confidence in.

They found the new restrictions make it impossible to continue to guarantee the security of Huawei equipment in the future.

After a ban on the purchase of new Huawei kit for 5G from next year, the aim is to completely remove the Chinese vendor's influence on 5G networks across the UK by the end of 2027.

The DCMS said Tuesday's decision takes into account the UK's specific national circumstances and how the risks from these sanctions are manifested in the country.

The existing restrictions on Huawei in sensitive and critical parts of the network remain in place, it highlighted.

The DCMS said the US action also affects Huawei products used in the UK's full fibre broadband networks. However, the UK has managed Huawei's presence in the UK's fixed access networks since 2005 and we also need to avoid a situation where broadband operators are reliant on a single supplier for their equipment.

As a result, following security advice from experts, DCMS is advising full fibre operators to transition away from purchasing new Huawei equipment. A technical consultation will determine the transition timetable, but it is expect this period to last no longer than two years.

The government said its new approach strikes the right balance by recognising full fibre's established presence and supporting the connections that the public relies on, while fully addressing the security concerns.

It stressed that its new policy in relation to high risk vendors has not been designed around one company, one country or one threat but as an enduring and flexible policy that will enable the UK to manage the risks to the network, now and in the future.

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