Emin and her work: A urine-stained sheet

Though decried by purists in the art world, the work was considered a masterpiece by connoisseurs of modern art.

Two Chinese students caused a stir last year when they jumped on the bed for a protest pillow fight at London's Tate Gallery.

Tate pipped

The Tate Modern was reportedly in negotiations with Emin for the bed, before Mr Saatchi pipped them to it.

He intends to show off his new purchase as part of his Ant Noises exhibition at his north London Saatchi Gallery in September.

He told the Sunday Times newspaper: "I was very slow to get the loopiness of Tracey's work. But I am a helpless fan now."

The art collector also owns two other works by Emin, one of them a tent entitled Everyone I Have Ever Slept with 1963-1994, bought at a price of �40,000.

But others have been less enthusiatic about Emin's work.

David Lee, former editor of Art Review, has described her as someone who cannot paint or draw but has a knack for attracting publicity.