A painting by Francis Bacon valued at $9m on sale at the Pavilion of Art & Design in London this week, could be a bellwether for the art market in a post credit crisis world.

The Monday night opening of the fair was attended by thousands of wealthy collectors and clients of the Pavilion's sponsor, Swiss private bank EFG International. Cheaper and mid-market works were the biggest sellers. While the more expensive works of art were less popular.