Japanese billionaire, art collector Yasako Maezawa will put up for auction a valuable painting by Jean-Michel Basquiat through the Phillips house.
The works of the great artist were hugely successful at auctions in 2021, as they sold for $ 439.6 million and took second place after the paintings of the emblematic Pablo Picasso.
Yasakou Maezawa bought the magnificent orange painting, Untitled (1982) from Christie’s in May 2016 for $ 57.3 million. The value of the large painting is estimated at $ 70 million today.
If the work is sold at the estimated price, the Japanese collector will make a profit of $ 12.7 million.
The work “Untitled” is considered one of the most important masterpieces of modern times.
Created in 1982 in Modena, Italy, Basquia exhibited his work at the invitation of merchant Emilio Maggoli for two seasons in the early 1980s. Three pioneering self-portraits, including Untitled, were created during the second voyage.
The striking horizontal figure in the painting is probably a nod to another landmark image of the 20th century, Pablo Picasso’s Guernica, which the artist saw at the Museum of Modern Art in New York as a child and, as he later recalled, left a deep impression on him. .
The Japanese billionaire also owns the most expensive Basque work ever sold at auction. The painting “Untitled- (Skull With Blue)” sold for $ 110.5 million from Sotheby’s in May 2017.
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