Basquiat - Untitled

Jean Michel Basquiat: "Untitled", 1982

Basquiat's Untitled sells for $110.5 million at Sotheby's

On May 18, 2017, Jean Michel Basquiat's 'Untitled' from 1982 was sold for $110.5 million at Sotheby's New York. The price is the new auction record for any work by an American artist.

May 19, 2017, source: Sotheby's

The price is also the highest ever at Auction for an artwork created post-1980, the second highest for any contemporary artwork at auction , and the 6th highest price for any artwork sold at auction.

The work was purchased by noted collector and entrepreneur, Yusaku Maezawa, the founder of e-commerce giant, Start Today, and ZOZOTOWN, the virtual mall on Japan’s largest fashion e-commerce site. The painting will eventually be housed in a museum based in Mr. Maezawa’s hometown of Chiba, Japan

“Tonight, Jean-Michel Basquiat entered the pantheon of artists whose works have commanded prices over $100 million, including Picasso, Giacometti, Bacon and Warhol,” commented Grégoire Billault, head of Sotheby’s contemporary art department in New York. "To think that it was created by a virtually-unknown 21-year old is humbling. We are thrilled that it was purchased by Yusaku Maezawa for his planned museum so others will have a chance to experience its magic firsthand.”

Related content

Auction records for Basquiat and Rodin (news, 2016)

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