This Jean Michel Basquiat artwork just sold for 110.5 million

110.5 Million!

Damn, that’s a whole lot of money but considering it’s by one of the most notable artists we’ve had the privilege of knowing, it’s not surprising. Jean-Michel Basquiat is one of the most referenced artists especially in hip-hop culture and with his graffiti, pop art and vivid imagery remain to be a top seller still.

The artwork, which is listed as “Untitled”, was bought in the 80s for 20k. I wonder if JayZ placed a bid on this almost quarter of a billion dollar work?

As reported by USA Today:

“Untitled” was virtually unknown before it was unveiled at Sotheby’s weeks ago. The auction house said it remained in the same private collection since it was bought at auction in 1984 for $19,000.

The previous auction record for a Basquiat work was set last May when “Untitled, 1982” sold for $57.3 million, also to Maezawa.

Basquiat died of a drug overdose in 1988 at age 27.