“Damien Hirst may have lost his title as the most expensive living artist at auction to Jeff Koons in New York last week, but he can still claim to be not only the richest artist in the world but also the one who spends the most on art. Bidding anonymously by telephone last Wednesday, he splashed out $33 million at Sotheby’s on a 14in by 12in self-portrait by Francis Bacon.”