Once the ‘enfant terrible’ of the Young British Artists in the 1980s, Tracey Emin is now a fully fledged grande dame of the international art scene, and one of the UK’s best loved and most intriguing artist.

With a willingness to reveal all, Emin got her big break came in 1997 when Everyone I Have Ever Slept With 1963-1995, where she embroidered her former lovers’ names on a tent. Around the same time, she appeared on the late night TV show After Dark, apparently extremely drunk, and swore repeatedly.

When My Bed appeared two years later, and was nominated for the Turner Prize, complete with used condoms and blood stained knickers, she became a household name, synonymous with the idea of the artist who couldn’t give a damn what you think and was prepared to mine every sordid detail of her own life for art.

Having celebrated her 51st birthday, does Emin regret the level of self-revelation? ‘I’m hardly ever likely to be chatted up, that’s for sure,’ she says. ‘Even though I’m still very candid, I protect myself a lot more now – and I protect the people I’m close to. That was a wave of work that I needed to do when I was much younger.’

On growing older, Emin is less worried about physical changes and more focused on further artistic development. ‘I need to get fitter and younger – and that’s not going to happen,’ she says. ‘I’ve got to work harder and learn more about painting and bronze. I’ve started doing life drawing over the last year and I love it. I’ve got to hone the skills I have in my hands.’

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Despite several long term relationships throughout her life, Emin has no regrets about never marrying or having children. ‘ I don’t think I’d be making work (if I were a mother).’ She admits. ‘I would have been either 100% mother or 100% artist. I’m not flaky and I don’t compromise. Having children and being a mother… It would be a compromise to be an artist at the same time. I know some women can. But that’s not the kind of artist I aspire to be. There are good artists that have children. Of course there are. They are called men. It’s hard for women. It’s really difficult, they are emotionally torn. It’s hard enough for me with my cat.'

As a mother of three, I want to kick her (and the cat) for this. But I respect her honesty. Does she think society sufficiently values women artists? ‘No. Of course not. But it’s changing slowly. We probably just need another 200 years.’

Although there is truth in Emin’s wry commentary on the still-apparent sexism in the art world (she is only one of just two women professors to be appointed at London's Royal Academy of Arts), her work is now demanding more money than most male artists can ever dream of. Earlier this year My Bed, created when Emin was living in a council flat near Waterloo, was bought at auction by a German collector for £2.54 million. How did she feel when it sold for so much?

‘I was in the auction room. I was so happy. Everyone in the room clapped and cheered. I watched the news the next morning and the newsreader said, Tracey Emin’s sold for a record price. Isn’t that good?’ And she smiled. I thought, ‘It’s a good news story! People aren’t cynical!’ It’s like a national treasure, an icon of our times. That’s the best thing about it for me. When I think about how people were about it 15 years ago and how they’ve changed… Now taxi drivers say to me, "Good on you." I don’t get anything from the sale of it but it represents something really important to me.’

With Emin’s work finally appreciated, has her life now turned out how she expected? ‘Oh it’s much better than I ever expected,’ she says.

Much better indeed.

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