The Nahmad family sold a Francis Bacon painting titled *Pope* (1958) for $15 million at the VIP opening of Art Basel. The work, which had been purchased by Helly Nahmad gallery for $6.6 million at a Sotheby’s auction in 2019, was the second-highest known price at the fair, trailing only a $40 million Louise Bourgeois *Spider* sold by Hauser & Wirth.
The sale underscores the booming high-end art market, with the painting’s 127% markup over just a few years reflecting strong demand for blue-chip modern works. It also highlights the Nahmad family’s role as a bellwether for market trends and the continued strength of Francis Bacon’s market, which has seen several eight-figure auction results in recent years.