Basquiat Painting Sells For Record $110.5 Million At Sotheby’s Auction

untitled-by-jean-michel-basquiat

The Jean-Michel Basquiat painting that sold on Thursday broke records for an American piece of art. Its sale breaks the previous record for US artists set by Andy Warhol’s “Silver Car Crash (Double Disaster)”, which was auctioned in 2013 for $105 million.

“I remember astounding the art world back in 1980s when I set an auction record for Basquiat at $99,000″, said Jeffrey Deitch, an art dealer who was the artist’s friend and champion.

The skull-like head on a giant canvas in oil-stick, acrylic and spray paint called “Untitled” was the star lot of the May auction season in NY and had been valued pre-sale in excess of $60 million. The 1982 acrylic, oilstick and spray paint work-which Sotheby’s says depicts “the artist’s anatomically rendered skull-like head”-was originally auctioned to an unknown private collector in 1984 for $19,000″.

Basquiat-who died from a drug overdose when he was 27 years old-achieved fame during his short lifetime. An worldwide audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert. It was valued pre-sale in excess of $60 million. “When I first encountered this painting, I was struck with so much excitement and gratitude for my love of art”.

The subject of much of Basquiat’s work – ordeals endured by blacks in America – is finding renewed resonance in the wake of nationwide United States protests since 2014 about the shootings of unarmed black men by police.

Maezawa, 41, has been buying contemporary art for a museum he wants to open in his hometown of Chiba. Only 12 paintings are believed to have fetched more than $100 million.

“I am happy to announce that I just won this masterpiece“, he posted. At the time, he issued a statement nothing that “Generationally, I relate to Basquiat’s culture and the essence of his life story”. The previous record was held by Andy Warhol’s Last Supper, which sold for $105.4 million. “He’s bringing something never seen before”.

The Brooklyn-born Basquiat went from graffiti artist to an art collector darling in the span of a mere seven years.

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