Basquiat painting sells at Sotheby’s for a monstrous $110.5 million
Basquiat’s ‘Untitled’ is officially the most expensive work ever sold by an American artist.
Selling for $110.5 million, Jean-Michel Basquiat’s “Untitled” became the most expensive work ever sold by an American artist, and the first work in nearly four decades to make over $100 million. Sold by Sotheby’s to an anonymous caller from Japan, the buyer finally revealed himself moments ago as Yusaku Maezawa — a Japanese billionaire and fashion mogul — and just published a pic of himself with his brand new, ultra-amazing artwork on Instagram. “I am happy to announce that I just won this masterpiece. When I first encountered this painting, I was struck with so much excitement and gratitude for my love of art. I want to share that experience with as many people as possible,” Maezawa wrote. The collector will undoubtedly add this Basquiat to his prolific portfolio of contemporary works (including another Basquiat he bought last year, works by Pablo Picasso and a piece by Richard Prince), which he would like to showcase at a museum currently under construction (and funded by Yusaku) in his hometown of Chiba, Japan.
The energetic 1983 painting is the sixth most expensive work ever sold at an auction. Basquiat’s art has just displaced his frequent collaborator/contemporary competitor, Andy Warhol, whose work fetched a record high of $105.4 four years ago for “Silver Car Crash (Double Disaster)(in 2 Parts).”
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