Bacon's work has achieved monumental prices at auction before.
In 2008, the Chelsea FC owner Roman Abramovich spent €120m on art in 24 hours in New York.
This is also not the first time Bacon has broken records.
In 1989, when Bacon was still alive, he made a record price for a living artist when a triptych of George Dyer sold for $6.3m. The piece, called 'May-June 1973', was painted in memory of Bacon's lover George Dyer, who committed suicide in 1971.