News 14 september — 15:36

Hockney painting set for record $80m

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A painting by British artist David Hockney is set to become the most expensive work by a living artist to ever be sold at auction, BBC reports.

Portrait of an Artist (Pool with Two Figures) is estimated to be worth $80m (£61m) said Christie's, which is auctioning the painting this November.

It is "one of the great masterpieces of the modern era," Christie's said.

The current record belongs to American Jeff Koons. His stainless steel Balloon Dog (Orange) sold for $58m in 2013.

"Right now, the price level for this painting is set in the region of $80m, which doesn't mean I want to cap it there, but that's where we place it within the context of market history," said Alex Rotter, co-chairman of Post-War and Contemporary Art and Christie's.

"In 10, 15, 20 years from now, if you buy it, we definitely want it back and I can tell you, we'll sell it for more," he added.

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