Jean-Michel Basquiat's 'In this Case' painting sells for $93.1 mn at New York auction
The 1983 painting sold for $81 mn, but the final price came to $93.1 mn with fees and commissions.
By AFP |
AFP
NEW YORK: Jean-Michel Basquiat's painting "In this Case" sold for $93.1 million in an auction Tuesday at Christie's in New York, the second-highest price paid for a work by the late artist.
The 1983 painting, which depicts a skull on a red background, sold for $81 million, but with fees and commissions the final price came to $93.1 million, well above the estimate of $50 million.
It was another skull, 'Untitled', that set the record for the most expensive by Basquiat (1960-1988), which went for $110.5 million in May 2017 at Sotheby's in New York.
'In This Case' reprises two dominant themes in Basquiat's work, anatomy and representation of African-American characters.
In a sign of Basquiat's growing status in the art world, the same canvas was sold in November 2002 for just $999,500, barely more than a hundredth of the price paid on Tuesday.
In recent years, the market has started a process of re-evaluating many of them. On Tuesday, Christie's had presented several Black artists as part of its big spring sale.
A Nina Chanel Abney work sold for $990,000, a Jordan Casteel went for $687,500 and a Rashid Johnson fetched $1.95 million.
A work by British artist Lynette Yiadom-Boakye was sold for $1.95 million and a piece by Ghanaian sculptor El Anatsui went under the hammer for $1.95 million, all of them setting new records.
The 1983 painting, which depicts a skull on a red background, sold for $81 million, but with fees and commissions the final price came to $93.1 million, well above the estimate of $50 million.
It was another skull, 'Untitled', that set the record for the most expensive by Basquiat (1960-1988), which went for $110.5 million in May 2017 at Sotheby's in New York.
'In This Case' reprises two dominant themes in Basquiat's work, anatomy and representation of African-American characters.
#AuctionUpdate Following competitive bidding, Jean-Michel Basquiat's climactic portrait 'In This Case' realizes $93… https://t.co/HqnA4Dp5Sf
— Christie's (@ChristiesInc) 1620781295000In a sign of Basquiat's growing status in the art world, the same canvas was sold in November 2002 for just $999,500, barely more than a hundredth of the price paid on Tuesday.
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With the exception of New York-based Basquiat, African American painters have long been undervalued by collectors and underrepresented in museums. In recent years, the market has started a process of re-evaluating many of them. On Tuesday, Christie's had presented several Black artists as part of its big spring sale.
A Nina Chanel Abney work sold for $990,000, a Jordan Casteel went for $687,500 and a Rashid Johnson fetched $1.95 million.
A work by British artist Lynette Yiadom-Boakye was sold for $1.95 million and a piece by Ghanaian sculptor El Anatsui went under the hammer for $1.95 million, all of them setting new records.
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