Photo courtesy of Twitter
Jean-Michel Basquiat's "Untitled" Painting Sells for a Record $110 Million
Photo courtesy of Twitter.
In 1984, Jean-Michel Basquiat sold his painting "Untitled" for $19,000.
Just moments ago, that same painting sold for an astonishing $110 million dollars at Sotheby's auction of contemporary art. That is a record price for an American artist at auction and the sixth most expensive work ever sold at auction.
It's also one of 10 pieces of artwork to surpass the $100 million mark.
Yusaku Maezawa, a billionaire entrepreneur, purchased the painting after a 10-minute bidding war. Unbelievably, Maesawa paid $57.3 million for Basquiat's "Untitled, 1982" only last year.
After the purchase, Maesawa, who literally owns a museum in Chiba, Japan, did what we all would do if we just spent millions on a one of a kind painting; he went to Instagram to stunt.