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A Basquiat painting sold for $110.5million sets new record for American art

Untitled (1982) sets a new high for the artist and for American art

Posted by Acclaim

An untitled painting by legendary American artist Jean-Michael Basquiat has sold at auction for $110.5million, setting a new record for auction sales of American art. ‘Untitled (1982)’ was expected to sell for a mere $60million and shocked the industry when it broke records.

A statement about proud buyer from auction house Sotherby’s revealed, “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.”

The billionaire announced he was the winner of the work on Instagram. Because if you can’t stunt it on the ‘gram, what’s the goddamn point?

A post shared by Yusaku Maezawa (@yusaku2020) on

 

 

A post shared by Yusaku Maezawa (@yusaku2020) on

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