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Sunday, May 15, 2016

Basquiat's Multimillion Dollar Portriat

(Jean-Michel Basquiat Untitled, 1982)

It always amazes me how much a deceased artist makes at auctions.

A self-portrait by Jean-Michel Basquiat sold for a worldwide auction record of $57.3 million at a Christie's contemporary art sale in May, according to the Associate Press.
Basquiat's self-portrait, Untitled, 1982, which portrays the young artist as a fiery demonic figure, was snapped up by Japanese online retailer, Yusaku Maezawa.
Prior to the auction, it had a $40 million pre-sale estimate.

Various artists have made millions after their death, but where does all that money go? The family? An estate that divides the money into a non-profit organization?

Right now, I do not have the visible funds to acquire any of Basquiat's original works. But I wonder how much a print of Untitled cost? For now, I guess I'll have to admire Basquiat's work from a distance.

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