You Ought to Know - Yazzy's at Williamverdult.com

According to Bloomberg.com, a painting by Lucian Freud, whose works are owned by collectors including John McEnroe and Queen Elizabeth II, may beat the artist's record at a New York auction on Nov. 13, said Christie's International.

The fall sales by Christie's and Sotheby's will show whether records will continue to be smashed after upheaval in the financial markets and threatened cuts in bonuses.

Prices for the top contemporary works are now higher than their 1990 prices, according to index-maker Art Market Research.

Last November, Christie's and Sotheby's took in about $1.5 billion at their impressionist to contemporary sales. Guarantees of minimum prices to sellers may run from a third to a half of key sales, the auction houses have said.