Jean-Michel Basquiat
Untitled
1982
$1,161,000
Christie’s New York
Sept. 10, 2007
The top lot, Jean-Michel Basquiat’s untitled 1982 acrylic and oil stick on canvas, featuring a skull-like face with a crown on a turbulent background of blues, whites and burgundies. With a presale estimate of $1,200,000-$1,800,000, the painting ultimately sold for $1,160,000, presumably close to its undisclosed reserve. Still, $1,000,000-plus is a good price for a work that some observers thought marginal and haphazard. [from artnet]
"Most of the art press is writing about the sky falling," wrote Josh Baer, "but the art business is very strong. Demand is strong." [from Josh Baer, publisher of the Baer Faxt art-market newsletter]
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