Jean-Michel Basquiat is still making his mark on the art world. Today (May 18), one of the late, great artist’s paintings sold at auction for a staggering $110.5 million.
The New York Times reports that Basquiat’s “Untitled” painting from 1982 is the 6th most expensive art piece sold at auction while only 10 other works have sold for over $100 million.
The new owner is a Japanese billionaire, Yusaku Maezawa. The same guy who copped a Basquiat for $57.3 million last year.
Of course, he took to Instagram to show off the latest piece in his collection (see below).
Back in 2013, Jay Z copped a Basquiat painting called “Mecca” for a much more modest $4.5M.
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. バスキア落札しました。アートを好きになってよかった。このペインティングをはじめて見た時、心からそう思いました。みなさんにも見てもらえる機会を作れたらいいなと思っています。 #jeanmichelbasquiat #basquiat #バスキア #ありがとう @sothebys
Breaking #news: Jean-Michel Basquiat’s ‘Untitled’ masterpiece just sold for $110.5m in our #nyc salesroom! Acquired by noted collector and entrepreneur, @yusaku2020, the work set a new auction record for the artist and also for a work by an American artist at auction. Before the work becomes a centerpiece of his future museum in Chiba, Mr. Maezawa’s hometown in #Japan, this exceptional painting will be loaned to institutions and exhibitions around the world. #SothebysContemporary continues in #NYC. Head over to Sothebys.com to view the auction, or check out our Facebook and Twitter pages for more information.