Jean-Michel Basquiat's artworks, resonant with commentary on race, identity, and society, continue to hold profound relevance amidst contemporary socio-political dialogues. His death at the age of 27 left a finite collection of works, enhancing the rarity and desirability of each piece.
Renowned collectors and influential figures, including Jay-Z, have expressed keen interest in acquiring Basquiat's artworks, contributing to his elevated market stature. Major retrospectives at esteemed institutions such as the Brooklyn Museum and the Fondation Louis Vuitton in Paris have further solidified Basquiat’s legacy.
"Untitled," 1982 - Sold for a staggering $110.5 million at Sotheby's New York in 2017, this iconic piece features Basquiat's famous skull motif, crafted from spray paint, acrylic, and oil stick. It set records for the most expensive work by an African-American artist and the first post-1980 artwork to surpass $100 million.
"In This Case," 1983 - Executed when Basquiat was just 22, this work sold for $93.1 million at Christie's New York in 2021. It is the final piece in a series inspired by "Grey’s Anatomy" and showcases Basquiat's fascination with skull imagery.
"Untitled (Devil)," 1982 - Purchased for $85 million by Yusaku Maezawa at Phillips in 2022, this large canvas symbolizes Basquiat's transition from street artist to fine artist. It presents a self-portrait of sorts, equating the artist with the figure of a devil.
"Versus Medici," 1982 - Inspired by Basquiat's time in Modena, Italy, this piece fetched $50.8 million at Sotheby's in 2021. It explores power, meritocracy, and wealth, challenging conventional notions.
"Dustheads," 1982 - Acquired by Malaysian businessman Jho Low for $48 million at Christie's in 2013, this vibrant work showcases Basquiat's mastery in capturing energy and form, surpassing its initial estimate and setting a new record for the artist.
These remarkable auction prices reflect the enduring impact of Basquiat's art, capturing raw emotion, societal struggles, and the essence of 1980s New York. Beyond financial investment, owning a Basquiat represents possession of a significant piece of art history, while for the broader public, it signifies the lasting power and resonance of art that speaks, provokes, and challenges.
February 26, 2024
