NEW YORK (AP) 鈥� A piece of conceptual art consisting of a simple banana, duct-taped to a wall, sold for $6.2 million at an auction in New York on Wednesday, with the winning bid coming from a prominent cryptocurrency entrepreneur.
鈥淐omedian,鈥� by Italian artist Maurizio Cattelan, was a phenomenon when it debuted in 2019 at Art Basel Miami Beach, as festivalgoers tried to make out whether the affixed to a white wall with silver duct tape was a joke or cheeky commentary on questionable standards among art collectors. At one point, another artist took the banana off the wall and ate it.
The piece attracted so much attention that it had to be withdrawn from view. But three editions sold for between $120,000 and $150,000, according to the gallery handling sales at the time.
Five years later, , founder of cryptocurrency platform TRON, has now paid more than 40 times that higher price point at the Sotheby鈥檚 auction. Or, more accurately, Sun purchased a certificate of authenticity that gives him the authority to duct-tape a banana to a wall and call it 鈥淐omedian.鈥�
The piece attracted heavy attention at the busy auction at Sotheby's, with attendees in the crowded room holding up phones to take photos as two handlers wearing white gloves stood at both sides of the banana.
Bidding started at $800,000 and within minutes shot up to $2 million, then $3 million, then $4 million, and higher, as the auctioneer, Oliver Barker, joked 鈥淒on't let it slip away.鈥�
鈥淒on鈥檛 miss this opportunity," Barker said. 鈥淭hese are words I've never thought I'd say: Five million dollars for a banana.鈥�
The final hammer price announced in the room was $5.2 million, which didn't include the about $1 million in auction house fees, paid by the buyer.
In a statement, said the piece 鈥渞epresents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.鈥� But he said the latest version of 鈥淐omedian" won't last long.
鈥淎dditionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture,鈥� Sun said.
Sotheby鈥檚 calls Cattelan 鈥渁mong Contemporary Art鈥檚 most brilliant provocateurs.鈥�
鈥淗e has persistently disrupted the art world鈥檚 status quo in meaningful, irreverent, and often controversial ways,鈥� the auction house said in a description of 鈥淐omedian.鈥�
The sale came a day after a painting by the Belgian sold for $121.2 million, a record for the artist, at a separate auction.
鈥淭he Empire of Light,鈥� an eerie nighttime streetscape below a pale blue daytime sky, sold Tuesday as part of Christie鈥檚 sale of the collection of interior designer Mica Ertegun, who died last year at age 97.
The sale lifts into the ranks of artists whose works have gone for more than $100 million at auction. Magritte is the 16th member of the club, which also includes Leonardo da Vinci, Pablo Picasso and Andy Warhol, according to the market analyst firm Artprice.
鈥淭he Empire of Light,鈥� executed in 1954, was one of 17 versions of the same scene that Magritte painted in oil. Marc Porter, chairman of Christie鈥檚 Americas, called the sale 鈥渁 historic moment in our saleroom.鈥�
The $121.2 million price included the auction house鈥檚 fees. The buyer was a telephone bidder whose identity was not disclosed.
The Associated Press
