RTL Today – Hong Kong: Basquiat painting sells for $41.8 mn at live-streamed Christie’s auction
Jean-Michel Basquiat’s “Warrior” painting sold for $ 41.8 million at Christie’s live streaming auction in Hong Kong on Tuesday, making it the most expensive Western artwork ever sold in Asia.
The final retail price for the 1982 artwork was higher than expected. Estimates prior to the start of the tender ranged from $ 31 million to $ 41 million.
The painting, made with acrylic and spray paint on a wooden panel, is considered in the art world to be the emblem of the American artist, created in the crucial era of his creative work.
The painting was sold after an “intense 10-minute bidding war between Hong Kong and New York,” Christie’s said in a statement.
It was interpreted as a semi-autobiographical work by Basquiat, who focused on inequality in society and the lack of black representation in the art world.
The painting was sold to an American collector at Sotheby’s London in 2012 for $ 8.7 million. However, the price has increased significantly alongside the growing demand for top Western paintings in Asia.
“Jean-Michel Basquiat’s warrior is an authoritative and authoritative portrait that clearly shows why the artist is considered one of the most important painters of the last half century,” said the auction house about the work.
Basquiat’s stature has also grown in recent years, fueling the staggering prices for his auctioned works.
One of his drawings, titled “Untitled (Head)”, sold for $ 15.2 million at Sotheby’s in New York last year.