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Basquiat Painting Fetches Record $110.5M At New York Auction
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19 May 2017 10:37 AM EST

NEW YORK (AP) — A 1982 artwork by Jean-Michel Basquiat sold for a record $110.5 million at Sotheby's auction of contemporary art Thursday night. Sotheby's said the sale of "Untitled" was an auction record for the artist. "Tonight, Jean-Michel Basquiat entered the pantheon of artists whose works have commanded prices over $100 million, including Picasso, Giacometti, Bacon, and Warhol," said Gregoire Billault, head of Sotheby's Contemporary Art Department in New York. The piece was purchased by noted Japanese collector and e-commerce entrepreneur Yusaku Maezawa after a 10-minute bidding war that was watched by thousands live on Instagram.

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