Photo courtesy of Taiwan News, (Wikipedia Commons Christie’s Photo)
Basquiat is expected to sell for $31M in Asia making it the most expensive Western work ever auctioned.
As one of the most highly-rated contemporary artists, Jean-Michel Basquiat continues to rule at Christie’s in Hong Kong next month. “Warrior”, a painting created in 1982, will be auctioned on March 23. The artwork is estimated to fetch between $31 million and $41 million dollars.
The large-scale painting of a sword-wielding figure with Basquiat’s trademark skull-like head appears in the painting, created with acrylic, oil sticks, and spray paint on a wood panel. The subject is brutality and in the early ’80s, Basquiat had human rights violations in mind.
Warrior’s value will have skyrocketed if it sells for more than its estimated amount. The current owner is a private American collector who paid $8.7 million for the painting at Sotheby’s London in 2012. Prior to that, the painting was sold at Sotheby’s in 2007 for $5. 6 million, and before that sold for $1.8 million in 2005.
Although the latest valuation is more than three times the work’s previous selling price 9 years ago, Christie’s representative points to the $30.7 million sales of “La Hara” in 2017 as an indication of the work’s future value. La Hara portrays a threatening picture of a police officer behind bars.
Basquiat’s most important works were produced during a brief period between 1981 and 1982, and are becoming increasingly scarce. His works are becoming increasingly rare each year, as the majority of them are now in museums.
The Hong Kong market has defied the pandemic’s economic grasp, and the city’s fall sales season has been impressive. Christie’s Hong Kong has set 17 new records for contemporary artists, making it the most popular auction house in Asia.
The Asian art market has defied the pandemic’s economic grasp, and Hong Kong’s Fall and Winter sales have been impressive. Christie’s Hong Kong has set 17 new records for contemporary artists, making it the most popular auction house in Asia.
Following the Basquiat sale on March 23rd, a 20th Century sale titled, ”Art of the Surreal” will feature works by Alexander Calder, Joan Miró, and Rene Magritte will be auctioned.
Learn more about Jean Michel Basquiat and the painting on the auction block at Christie’s Hong Kong
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