At a New York auction on Wednesday, a well-known cryptocurrency entrepreneur placed the winning bid, and the piece of conceptual art—a basic banana taped to a wall—sold for $6.2 million.
When Italian artist Maurizio Cattelan’s Comedian made its debut at Art Basel Miami Beach in 2019, it caused a stir as attendees attempted to determine whether the lone yellow fruit attached to a white wall with silver duct tape was a joke or a cheeky critique of dubious art collector standards. Another artist once ate the banana after removing it from the wall.
The artwork was so popular that it had to be taken off from display. However, the gallery managing sales at the time reported that three editions brought in between $120,000 and $150,000 every time.
The creator of the cryptocurrency network TRON, Justin Sun, has now paid more than 40 times that higher price point at the Sotheby’s auction five years later. More precisely, Sun bought an authenticity certificate that allows him to duct-tape a banana to a wall and call it Comedian.
At the busy Sotheby’s auction, the item garnered a lot of attention. Two handlers in white gloves stood on either side of the banana, and people in the packed room held up their phones to take pictures.
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Oliver Barker, the auctioneer, remarked, “Don’t let it slip away,” as the bidding began at $800,000 and quickly increased to $2 million, $3 million, $4 million, and more.
“Don’t pass up this chance,” Barker said. I never would have imagined saying, “Five million dollars for a banana.”
The buyer paid around $1 million in auction house fees, which were not included in the $5.2 million final hammer price that was disclosed in the room.
Sunsaid said in a statement that the piece is an example of a cultural phenomena that connects the bitcoin community, memes, and the realm of art. However, he predicted that the most recent iteration of Comedian would not endure.
Sun added, “As part of this special artistic experience, I will personally eat the banana in the coming days, honoring its place in both art history and popular culture.”
Cattelan is regarded by Sotheby’s as one of the most outstanding provocateurs of contemporary art.
According to the auction house’s description of Comedian, he has consistently challenged the status quo in the art world in significant, irreverent, and frequently contentious ways.
The sale took place the day after a painting by Belgian surrealist Ren Magritte sold at a separate auction for $121.2 million, setting a record for the artist.
The collection of interior designer Mica Ertegun, who passed away last year at the age of 97, included the spooky nighttime streetscape, “The Empire of Light,” which sold Tuesday at Christie’s.
With the sale, Magritt becomes one of the artists whose pieces have sold for over $100 million at auction. According to market research firm Artprice, Magritte is the 16th member of the club, which also includes Andy Warhol, Pablo Picasso, and Leonardo da Vinci.
Magritte created 17 oil paintings of the same scenario, including The Empire of Light, which was completed in 1954. Christie’s Americas chairman Marc Porter referred to the sale as a “historic moment” in our saleroom.
The auction house’s expenses were included in the $121.2 million price. The buyer, whose identity was kept a secret, was a telephone bidder.
The Associated Press
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