Jesse James
One of Basquiat’s prized paintings is going up for sale soon. The Japanese billionaire art collector Yasaku Maezawa is auctioning one of his Basquiat paintings with Phillips. The artist’s works brought in big numbers at auction in 2021, bringing in $439.6 million USD. Maezawa purchased ‘Untitled (1982)’ from Christie’s in May 2016 for $57.3 million USD.
The painting is estimated to be worth $70 million USD. If the work does hit the $70 million USD mark, it would be an approximate $12.7 million USD markup from when purchased by Maezawa. Phillips also confirmed that the painting has been backed and authenticated by a third-party guarantee, which means it could lead to higher bidding. Maezawa’s Basquiat is considered the third most expensive Basquiat ever sold publicly. The collector is also the owner of the most expensive Basquiat painting sold at auction.
Check out ‘Untitled (1982)’ in the images below and head over to Phillips to learn more about the auction on May 18th. In the meantime, keep it locked with The Culture Curators for more art news and art drops coming soon.
Photos via Phillips
