Jean-Michel Basquiat Painting Breaks Art Auction Records With $110.5 Million Sale

Jean-Michel Basquiat's Untitled. Produced in 1982 the Los Angeles Times says that until shortly before Thursday's auction it hadn't been shown in public since a private collector bought it for $19,000 in 1984

Sotheby's said the sale of Untitled in Manhattan was an auction record for the artist.

Thursday night, a painting done by the late artist, Jean-Michel Basquiat in 1982, sold for an incredible record $110.5 million at Sotheby's auction of contemporary art.

"Untitled", a 72 1/8-inch by 68 1/8-inch acrylic, spray paint and oilstick on canvas work, had initially been estimated to go for at least $60 million, but the NY Times accurately predicted before the auction that "given the current global appetite for his work, that figure could go higher in a bidding war". A tense bidding war lasted for around 10 minutes between a client in Sotheby's NY showroom and another on the telephone, with the telephone buyer ultimately clinching the top bid. "I hope it brings as much joy to others as it does to me and that this masterpiece by the 21-year-old Basquiat inspires our future generations".

It was Mr Maezawa, 41, the founder of Contemporary Art Foundation, who a year ago set the previous auction high for Basquiat, paying US$57.3 million for the artist's large 1982 painting of a horned devil at Christie's.

Читайте также: Community health service operating normally after concerns over NHS cyber attack

On purchasing the Basquiat, Maezawa said in a statement provided by Sotheby's: "When I saw 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", wrote the billionaire on Instagram.

The enigmatic Basquiat died of a heroin overdose in 1988, aged just 27. His art captured the imagination of many artists, gallery owners and musicians in New York City.

Sotheby's announced that the painting will be housed eventually in a museum based in Maezawa's hometown of Chiba, Japan. The younger daughter, Lise, raised nearly as much by selling just one painting - the Basquiat - at Sotheby's.

Roy Lichtenstein's "Nude Sunbathing" fetched $24 million, while Gerhard Richter's "Abstraktes Bild" went for $15.4million. His "The Women of Algiers (Version 0)" fetched $179.4 million at Christie's in NY in 2015.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related News:

  • Form Tottenham striker Harry Kane turns his attention to sinking Scotland

    Form Tottenham striker Harry Kane turns his attention to sinking Scotland

    Leicester's joy was short-lived when Spurs restored their two-goal advantage two minutes later through Kane's close range header. Jamie Carragher thinks Tottenham need a player on the right-hand side with "blistering pace" to take them on to the next level.
    Motorola Moto Z2 Play images and specs leak at TENAA

    Motorola Moto Z2 Play images and specs leak at TENAA

    With no official confirmation, however, it's highly advisable to take all leaks and rumors with a grain of salt for now. Amidst all these, the phone scored a healthy 1930 single-core score along with a multi-core score of 6207.
    Xi: Reject protectionism or risk global growth

    Xi: Reject protectionism or risk global growth

    On Sunday, Xi pledged US$124 billion for the new Silk Road which expands links between Asia, Africa, Europe and beyond. Second, we need more synergy in our development strategies both at the regional and global levels.
  • Google explains how to save battery on Android O

    The wonderful calling feature of Google Home will allow the users to make hands-free phone calls through the connected speaker. That means when you download a new app, you will not need manually enter your details again or to open a new account.

    WannaCry virus primarily targeted Windows 7 computers

    The virus exploits a vulnerability in Microsoft Windows software, first identified by the US National Security Agency . Microsoft's Smith believes this is the main reason why the WannaCry ransomware so effectively reached a global impact.

    Buy 5 Energy Mutual Funds As Oil Prices Surge

    OPEC and other producers made a decision to reduce oil supplies by 1.8 million barrels per day for the first half of this year. It seems that the Organization of Petroleum Exporting Countries ( OPEC ) may be losing control of oil prices worldwide.
  • Medical Properties Trust, Inc. (NYSE:MPW) Quarterly Analysis

    Barclays PLC boosted their price target on shares of Medical Properties Trust to $14.00 in a report on Friday, February 10th. In terms of Buy, Sell or Hold recommendations, Medical Properties Trust (NYSE:MPW) has analysts' mean recommendation of 2.8.
    Trump willing to try engagement with North Korea, on conditions: Seoul

    Trump willing to try engagement with North Korea, on conditions: Seoul

    Ambassador Nikki Haley declared: "You either support North Korea or you don't, but you have to choose". Any one of which would make any nuclear device North Korea can make look like a firecracker.
    Danielle McLaughlin: Trump didn't just throw the Federal Bureau of Investigation  boss under a bus

    Danielle McLaughlin: Trump didn't just throw the Federal Bureau of Investigation boss under a bus

    Spicer repeatedly said "the president has nothing further to add on that" and eventually insisted: "The tweet speaks for itself". It must be clear that Rosenstein will have final say on the FBI's Russian Federation inquiries.
  • Comey Thought He Could Handle Trump's Interference

    The Justice Department appointed Mueller, a former FBI director, to lead the investigation into Russian meddling on Wednesday. Lawmakers said Rosenstein was careful in his wording, in part because of the potential scope of Mueller's probe. "No, no.
    Paul Ryan isn't done defending Trump

    Paul Ryan isn't done defending Trump

    House Republicans said they didn't spend much time, if any, discussing the events at the White House. He said the House will pursue its investigation "regardless of which party is in the White House".
    Dollar has worst week in over a year amid political uncertainty

    Dollar has worst week in over a year amid political uncertainty

    Traders are not pricing in additional increases, though, as investors are reluctant to take short positions. Spot gold added 0.15 percent to $1,248.62 an ounce, set to post a weekly gain of 1.6 percent.


Most liked

Escalation in Venezuela: Maduro Detains, Voids Opposition Leader Capriles Passport
President Nicolas Maduro blames the opposition for the country's crisis and the deaths, which have occurred on all sides. The state prosecution service said on Twitter the boy was killed "during a demonstration" there.

White House may be looking to undermine special counsel's investigation
The Justice Department on Friday issued the text of Rosenstein's opening remarks for the briefings on Capitol Hill. We know Trump is not happy with Deputy Attorney General Rod Rosenstein's decision to appoint a special counsel.

Comey agrees to testify before Senate Intel Committee
Robert Mueller, who served as FBI chief under George W Bush, was appointed this week as special counsel for the investigation. In the remarks, Rosenstein said he learned a day before Comey's firing that Trump wanted to dismiss him.

Donald Trump told Russians James Comey a 'nut job'
Mr Trump himself later said that he had already made the decision to fire Mr Comey when the Rosenstein memo arrived. The Justice Department on Friday issued the text of Rosenstein's opening remarks for the briefings on Capitol Hill.

Ducks resting up for aggressive Preds down 2-1 in West
Wilson and Arvidsson picked up the assists. "Obviously, we're disappointed", Forsberg said. "We know what we can do in the room". Defensively, the Anaheim Ducks are allowing 2.4 goals per game and are killing 84.7 percent of their opponents power plays.

Final Confederate monument coming down in New Orleans
One onlooker, John Renner, a white man and an IL native, said the statue should remain because it represents history. The statues will be put into storage while the city looks for a suitable place to display them, the mayor has said.

Texas Permanent School Fund Decreases Stake in Regions Financial Corp (RF)
For RF, you can get a sense of how sustainable that is by a levered free cash flow of $1.39 Billion over the past twelve months. The lowest 12-month price target for the shares is $11.00, which would be decrease of about -21% of its current value.

New Video Talks About Star Wars Battlefront 2's Story
It's PlayStation branded, but Star Wars Battlefront 2 will also be out on PC in November. Apparently, this was one of the reasons that sold the game to the team.

Sophos has egg on its face after ransomware attack
An equivalent scenario with conventional weapons would be the USA military having some of its Tomahawk missiles stolen. But Russia was among the hardest hit, with the attack exposing security flaws in some of its largest institutions.

(BSX) Shares Bought by Boston Family Office LLC
A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range. Following the transaction, the senior vice president now directly owns 20,980 shares in the company, valued at $517,366.80.

Goalie Matt Murray to start for Penguins in Game 4 vs. Senators
Fleury has earned the right to play between the pipes in Game 4 and redeem himself by helping the Penguins tie the series. The Pittsburgh Penguins couldn't do what the Ottawa Senators did in game 1 in Pittsburgh , and that is weather the storm.

Can We Just Start the Cavs-Warriors Rematch Already?
Game 2 of the Cavaliers and the Celtics tips off Friday at 8:30 pm ET with the visiting Cavs giving 5.5 points (O/U 219.5). And while it may not be the Finals matchup we all want, it's the Finals matchup we all need.

Trump triggers NAFTA talks
It created a trade agreement between Canada - Mexico and the United States , essentially getting rid of import or export taxes. President Donald Trump's threats to renegotiate the North American Free Trade Agreement are coming to fruition.

Women in Venezuela march to send a message about country's political crisis
Venezuelan opposition leader Maria Corina Machado (C) attends the women's march. A 17 year-old was also killed during the day's protests .

Trump assails naming of counsel as 'witch hunt'
Mueller's appointment enjoys political protections that are quite strong and have already proven themselves in this matter. The appointment of the special counsel indicates other believe that's still open to question.