High price of being a living artist.

Lucian Freud’s masterpiece, Benefits Supervisor Sleeping, is expected to fetch more than £17m when it is sold in New York this week.

At that price it will smash the £11m sale price record for a painting by a living artist.

But despite the eye watering price tag of paintings by the likes of Freud, the demand for art as an investment is declining, according to Aon.

A survey by the broker found that only 14% of UK individuals felt confident in investing in art, compared to nearly 40% two years ago..