KEY POINTS:
A Francis Bacon self-portrait failed to sell at auction in New York yesterday, in another sign the souring economy is having a crushing effect on autumn art sales.
Bacon's 1964 Study for Self-portrait - billed as a highlight of Christie's contemporary art auction - was estimated to bring US$40 million ($71.2 million).
But the bidding stopped at US$27.4 million ($48.7 million).
