Consigned by Lise Spiegel Wilks, the daughter of Jerry Spiegel, a real estate developer of Kings Point, N.Y., and his wife Emily, who as collectors of works by emerging artists bought the work in 1984 for $19,000, Jean-Michel Basquiat’s “Untitled” (1982, acrylic, spray paint and oil stick on canvas) was offered at auction by Sotheby’s on May 18, 2017 with a guaranteed price of at least $60 million.
The painting was purchased for $110,487, 500 (hammer price with buyer’s premium) by Yusaku Maezawa.
Yusaku Maezawa, 41, is the founder of Contemporary Art Foundation and of of Japan’s large online fashion mall, Zozotown.
Passionate about the works of Jean-Michel Basquiat, Mr. Maezawa acquired “Untitled” for a museum that he is planning for his hometown of Chiba, Japan.
“But before then I wish to loan this piece — which has been unseen by the public for more than 30 years — to institutions and exhibitions around the world, I hope it brings as much joy to others as it does to me, and that this masterpiece by the 21-year-old Basquiat inspires our future generations.”
Yusaku Maezawa
See:
“Untitled” | Jean-Michel Basquiat, 1982, acrylic, spray paint and oil stick on canvas
“A Basquiat Sells for “Mind-Blowing” $110.5 Million at Auction” | Robin Pogrebin & Scott Reyburn, The New York Times, 18 May 2017
“How Basquiat Became the $60 Million Man” | Robin Pogrebin & Scott Reyburn, The New York Times, 17 May 2017
“Sibling Rivalry Erupts Into $160 Million Art Auction Showdown” | Katya Kazakina, Bloomberg, 10 May 2017
“Monumental Basquiat Leads Contemporary Art Evening Sale” | Sotheby’s, 18 April 2017
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