RECORD AUCTION PRICE FOR BASQUIAT and RECORD PRICE FOR AN AMERICAN ARTIST AT AUCTION.
A 1982 untitled artwork by American Jean-Michel Basquiat reached dizzying new heights at Sotheby's contemporary art auction in New York. The artwork sold for US$110.5 million (including buyer's premium), to Japanese collector Yusaka Maezawa, who is currently establishing an art museum in Chiba, Japan.
This price puts the artwork in the top ten most expensive artworks ever sold at auction.
The artwork was originally purchased in 1984, for US$19,000 by an astute collector, whose daughters were selling the picture.
The previous auction record for a Basquiat was sold at Christies, in May 2016. Also another untitled artwork from 1982, for US$57.3 million (including buyer's premium).
Basquiat died in 1988 aged 27.