( CNN ) -- A painting by artist Francis Bacon sold for $ 142,405,000 on Tuesday , breaking the record as the most expensive piece of art ever auctioned , according to a statement from the auction house . `` Three Studies of Lucian Freud '' was sold after six minutes of bidding in the room and on the phone at Christie 's in New York City , according to spokeswoman Elizabeth Van Bergen . Painted in 1969 , it is known as one of Bacon 's most iconic works , as it features Lucian Freud at the apex of his relationship with Bacon , according to the auction house 's statement . Warhol classics go to auction . The triptych , a three-panel piece of art , features Freud sitting on a wooden chair in varied positions , the statement said . The painting was part of a record-breaking auction that grossed $ 691,583,000 , the highest total for an auction sale in art market history , according to Christie 's . The sale of Post-War and Contemporary Art broke 10 auction records with three pieces sold for more than $ 50 million , 11 for over $ 20 million and 16 for over $ 10 million . Painting bought in $ 46 lot worth $ 390,000 . Jeff Koons 's `` Balloon Dog '' fetched $ 58.4 million , a record for any piece of art sold at auction by a living artist . The previous record for a work of art sold at an auction was Edvard Munch 's `` The Scream , '' painted in 1895 . It sold for more than $ 119 million dollars in 2012 at Sotheby 's New York , according to the statement . Bacon 's previous record for his work was more than $ 86 million for another triptych painted in 1976 and sold in 2008 at Sotheby 's New York , according to the statement . Chinese artist 's 'Last Supper ' sets record for Asian contemporary art . Salvador Dali art donated to Goodwill , auctioned online .
` ` Three Lives of Lucian Freud , '' sold in 1969 , sold for $ 142,405,000 . Christie 's claims it 's the most money ever paid for a work of artwork at an auction . The previous record for a work of art sold at an auction was Edvard Lund 's ` ` The Scream '' The sale was part of an auction with the highest sale total in history .