The new owner of Louis le Brocquy`s water-colour – Study of Francis Bacon – paid more than 10 times the minimum estimate for the work at an auction in London.

Speculation was mounting among the art world as to who paid €229,048 for the work – which was guided to fetch as little as €22,369 before yesterday`s sale.

The price broke all records for a work on paper by the Dublin-born artist, who is celebrating his 90th birthday this year.

But it was not just le Brocquy who created a stir at Sotheby`s first sale of post-war and contemporary Irish art at its Bond Street rooms.

Some 26 of Ireland`s established and emerging artists set new auction records, with many works selling for prices double and triple their high estimates.

Posted: 10|26|06 at 11:45 am. Filed under: Auction News.