Art Sales Set Auction Records

The art world reached new heights this week as bidders spent record amounts of money for art work.

A Francis Bacon triptych went for $142.4 million, the highest art sale ever; Jeff Koon's sculpture "Balloon Dog (Orange)" went for $58.4 million, a record for a living artist; and Andy Warhol's "Silver Car Crash (Double Disaster)" was Sotheby's biggest sale at $105.4 million.

Who's buying this art and will this art bubble burst?