Friday, 26 May 2017

Japanese billionaire buys Jean-Michel Basquiat painting for $110.5 million, highest ever price paid at auction

It's the first work made after 1980 to sell for more than $100 million.
It's a spectacular increase from the last time the painting, "Untitled," was sold -- it fetched a mere $19,000 in 1984. 33 years since then, the picture depicting a skull-like head has remained stashed away. It is now the sixth highest price ever for a work of fine art and blew away the auction house's pre-sale estimate of $60 million. It also tops the $105 million paid in 2013 for a Warhol.
Dustheads (1982): $48,843,752
Raised in Brooklyn, Basquiat was a maverick of the New York art scene in the 1980s. Of Puerto Rican and Haitian descent, he initially gained attention for his graffiti. He died in 1988 at the age of 27 from a heroin overdose.