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Super-rich go on a $402 million spending spree

November 14, 2013: 4:18 PM ET

By Aaron Smith

The ultra-wealthy are paying mind-boggling prices for lots of bright, shiny objects this week, spending hundreds of millions of dollars on paintings, sculpture and jewelry in just the last few days.

The latest record-breaking purchase was the winning $105.4 million bid on Wednesday for "Silver Car Crash (Double Disaster)," a painting by Andy Warhol,  sold at a  Sotheby's auction.

"Silver Car Crash (Double Disaster)" by Andy Warhol: $105.4 million

Sotheby's said that the two-section 1963 diptych of silkscreen ink and silver spray paint was the highest price ever paid at auction for a work by Warhol. Altogether, the New York auction of contemporary art brought in more than $380 million for the auction house.

Related: Is there a bubble in the art market?

But that pales compared to the price paid earlier this week for a painting by Francis Bacon. On Tuesday, "Three Studies of Lucian Freud" brought in $142,405,000 at Christie's in New York. The three-section triptych, painted in 1969, is the most expensive work of art ever to be sold at auction, according to Christie's.

"Three Studies of Lucian Freud" By Francis Bacon: $142,405,000

Warhol and Bacon are both deceased, but Jeff Koons proved that artists don't have to be dead to pull in tens of millions for a single work. At the Christie's auction on Tuesday, his sculpture "Balloon Dog" fetched $58.4 million, the highest price ever paid at auction for a piece by a living artist.

"Balloon Dog" By Jeff Koons $58.4 million

While the wealthiest of the wealthy were feverishly bidding on art in New York, they were also snatching up jewelry in Switzerland. A collection of 50 Rolex Daytona watches brought in $13 million at a Christie's auction on Tuesday, with a single watch fetching more than $1 million.

50 Rolex watches: $13 million

In Geneva on Wednesday, Sotheby's auctioned off a hefty, 59.6-carat pink diamond for more than $83 million. The so-called "Pink Dream" brought in the highest price ever for a jewel at auction, according to Sotheby's.

60 carat pink diamond: $83 million

"It's an exuberant diamond," David Bennett of Sotheby's jewelry division told CNNMoney a few days before the auction. "It's like pink champagne. The only obvious limitation is that you have to have a certain amount of funds to consider buying it."

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