Jean-Michel Basquiat's "Untitled" painting of a skull (shown here) sold last week at a Sotheby's auction for $110.5 million. Only 10 other works sold at auction ever reached the $100 million mark. The buyer of the painting below is a founder of the Contemporary Art Foundation in Japan and plans to share the art there.
I was lucky to see a few of Baquiat's paintings for the first time at Art Basel Miami in December 2015, just 1-1/2 years ago. The asking price for his largest painting there was $7.5 million. Shortly after, I completed an illustration of Basquiat that includes his favorite way of expressing success. He simply said "Boom!"
With this recent sale, Baquiat's work has now surpassed the highest price ever paid for a Warhol. Now that's astonishing!