~BASQUIAT: 16 ft wide 1982 painting . . goes for $57.3 Million / update THURS MAY 12
the blue chip market . . is insane !!
totally going overboard crazy – for the hippest of the art stars.
if that doesn’t say . . buy young art, then what does ?
you only need one to pop – to call it a big win.
having a good ‘eye’ – of course . . trumps all.
“CHRISTIE’S can thank an anonymous Japanese telephone bidder for going on a shopping spree . . . Tuesday, (May 10, 2016). . . . The biggest prize for Paddle No. 1733 was an untitled, 16-foot wide Jean-Michel Basquiat painting (above) that sold for $57.3 million, (well) over its $40 million estimate. The price broke the artist’s previous auction record of $48.8 million set 6 years earlier with ‘Dustheads’ . . .
The (same) Japanese buyer also bought a $1.7 million BRUCE NAUMAN neon sign that said, “Eat War”, a $5.8 million red ALEXANDER CALDER , ‘Sumac 17’, and a $9.7 million RICHARD PRINCE ‘Runaway Nurse’ form 2005-2006.”
“The exuberance of this collector, and a smattering of others, gave the sale a lively atmosphere that overshadowed the fact that several other major offerings barely sold at all . . . works by ROBERT GOBER, JASPER JOHNS, JEFF KOONS and RUSCHA sold for below their asking prices.”
UP-DATE: THURS MAY 12, 2016 – 12:20 PM
the piece belonged to art dealer/Venus Over Manhattan NYC/LA gallerist . . ADAM LINDEMANN.
it was sold to . . Japanese online retailer YUSAKU MAEZAWA.
source: WALL STREET JOURNAL, Thurs May 12, 2016, pg. B6.