Japanese collector Yusaku Maezawa has announced that it will open bids for Jean Michel Basquiat’s Untitled (1982), worth more than $70 million, in this year’s auction market, whose paintings made $439.6 million in 2021 of transactions, second only to Pablo Picasso.
Maezawa Yusaku is the founder of fashion shopping website ZOZOTOWN, who is worth about $2 billion. In May 2016, he bought the painting for $57.3 million from Christie’s auction. Today, it is estimated to be $70 million. If The on-target price meets the estimate and will receive a $12.7 million markup over cost. In addition, Phillips Auction House, which is responsible for the transaction, also said that the painting has been backed and certified by a third-party guarantee, which means that there may be a higher price in the bidding activity.
The painting is seen as the third most expensive work ever sold publicly by Jean-Michel Basquiat, and interestingly Maezawa is also the owner of the most expensive painting, which sold for $110.5 million in May 2017 The winning bid was also for an untitled painting published in 1982.
“Untitled” (1982) will be put on the hammer at the Phillips “Twentieth Century and Contemporary Art” New York Evening Sale on May 18, accepting physical currency and virtual currencies such as Ethereum and Bitcoin. Interested readers may wish to pay more attention .
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