Japanese billionaire sells Basquiat in New York for $85 million

(Belga) The Japanese billionaire Yusaku Maezawa, a major art collector and recent space tourist, sold a monumental painting by the American Jean-Michel Basquiat on Wednesday evening in New York for 85 million dollars, winning a plus- worth nearly $28 million.

At a public auction in Manhattan, the Phillips house sold “Untitled” by Basquiat, painted in 1982 by the neo-expressionist artist who died at the age of 27 and whose price has continued to climb . Mr. Maezawa had announced in March his intention to auction at Phillips this gigantic painting which he had bought in 2016 for 57.3 million dollars. In May 2017, the billionaire broke a record for an American work of art by buying another painting by Basquiat for $110.5 million at Sotheby’s. Either one of the ten works sold at auction for more than 100 million. Aged 46, Mr. Maezawa is the founder of Zozotown, the largest online clothing and accessories store in Japan. The Japanese billionaire explained in March that owning a Basquiat for six years had been “a great pleasure”, but that the art should “be shared to be part of everyone’s life”. Yusaku Maezawa also became the first Japanese space tourist last December to board the International Space Station (ISS) with the Russian space agency. (Belga)

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Never miss any important news. Subscribe to our newsletter.