Painting sold for $149M in New York sets American record
By Rebecca WilsonIn MoneyOn Saturday 20th May, 2017

Painting sold for $149M in New York sets American record

A record price has been set for an American artist at an auction yesterday and it has the world talking.   The artwork by Jean-Michel Basquiat has sold for a record $US110.5 million ($149 million) a Sotheby’s auction in New York.

The painting, which sold Thursday night local time in Manhattan achieved a record price for the artist who painted it in 1982.  

The painting of a face in the shape of a skull was purchased by a noted Japanese investor and entrepreneur Yusaku Maezawa, in a 10 minute bidding war.  The investor says he will eventually display it in his museum in Tokyo.  

The artist, Basquiat, died in 1988 at the age of 27, of a drug overdose.  His most recent sale prior to this was last year in May when his painting, Untitled, 1982 sold for $US57.3M.  It also sold to Maezawa.  

What do you think of the painting and the sale? 

Basquiat's seminal 'Untitled' work from 1982 soars to $110.5 million – after 10 minutes of bidding. @sothebys Acquired by collector @yusaku2020

A post shared by Jean-Michel Basquiat (@basquiatart) on May 18, 2017 at 5:43pm PDT

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