Basquiat’s work belonged to the personal collection of Italian fashion designer Valentino Garavani
His painting Basquiat entitled “El Gran Espectaculo” (The Nile) sold to the highest price, 67 million dollarsat Christie’s New York contemporary art auction.
The triptych, depicting floating skulls and figures against a background of engraved phrases referring to ancient Egyptian texts, belonged to the personal collection of Italian fashion designer Valentino Garavani.
In the center of the painting, the god Osiris is depicted in a yellow boat sailing on the river Nile. The original estimate was that the work created by the late artist in 1983 would sell for around $45 million.
🎨 Auctioned for U$S 67 million a Basquiat painting on the African diaspora https://t.co/m66LwTWyo0
— Agencia Telam (@AgenciaTelam) May 16, 2023
Finally, three bidders raised the price gradually the stakes and reached 58 million dollars, final price 67 million dollars with fees. It is the fourth highest price paid for a Basquiat work.
In the same auction, 27 works were sold, among others, by new artists such as Luis Fratino, but also well-known ones such as Barbara Kruger. Twenty-five of these works were sold, while one by Jeff Koons was withdrawn by the end of the sale.
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