Basquiat rarity sells for record $110.5m
China Daily | Updated: 2017-05-20 07:45
NEW YORK - A little-seen painting by Jean-Michel Basquiat that sold for $19,000 in 1984 soared to an astounding $110.5 million at Sotheby's on Thursday, the second-highest price ever for a work of contemporary art.
Basquiat's vibrant, untitled 1982 portrait achieved the sixth-highest price for any work of art at auction, bearing testament to the eagerness of deep-pocketed collectors to spend freely on trophy pieces.
It also set records for an American artist, as well as for the artist, who died in 1987.
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