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A Basquiat painting just smashed Warhol’s auction record for US artists, selling for a whopper $110.5 million

Jean-Michel Basquiat, an artist who grabbed himself enormous international acclaim in the 1980s before his death in 1988. Now in 2017, the late artist has smashed the auction record for any work by a US artist.

His 1982 painting Untitled was sold through an auction by global art business Sotheby’s to Yusaku Maezawa, for a total of $110.5 million.

jean-michael basquiat untitled $110 million

Untitled, 1982

In case you had $110.5 million lying around, you just missed out on snagging yourself a Basquiat original, and the most expensive work by a US artist ever.

“When I first encountered this painting,” wrote Maezawa in an Instagram post. “I was struck with so much excitement and gratitude for my love of art. I want to share that experience with as many people as possible.”

Maezawa is the founder of Japan’s largest online mall.

The auction record was previously held by none other than Andy Warhol, his work Silver Car Crash (Double Disaster) selling for $104 million in 2013.

Via The Fader.

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May 23, 2017