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Basquiat Painting Sells For US$110.5 Million, Breaking US Auction Record

Published on 20 May 2017

An untitled painting of a skull by Jean-Michel Basquiat was sold for US$110.5 million at Sotheby’s in New York, the highest price ever paid for a work by an American artist at auction, according to CBS News.

The buyer of the piece was Japanese e-commerce billionaire and art collector Yusaku Maezawa, who emerged victorious from a 10-minute bidding war.

“When I saw this painting, I was struck with so much excitement and gratitude for my love of art,” Maezawa commented.

Prior to this week’s sale, the untitled painting had been a private collection since 1984, when it was purchased at auction for US$19,000.

Read the original story here.

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