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$30 Million Jean-Michel Basquiat At Christie’s May 2014 Contemporary Art Sale in New York

April 15, 2014
Jean-Michel Basquiat (1960-1988) Untitled acrylic and oil stick on canvas 68 x 103 in. (172.7 x 261.6 cm.) Executed in 1981 Estimate: $20,000,000 – 30,000,000

Jean-Michel Basquiat (1960-1988), Untitled
acrylic and oil stick on canvas: 68 x 103 in. (172.7 x 261.6 cm.)
Executed in 1981
Estimate: $20-30 million. Click on image to enlarge.

Christie’s has just announced that on May 13, 2014, as part of the evening sale of Post War and Contemporary Art, they will be auctioning a large Jean-Michel Basquiat painting that has been in the same collection since 1982 – it carries a pre-sale estimate of $20-30 million.  According to a press release, it comes from the Reiner Family Collection.

The release notes:

The year 1981 marked Jean-Michel Basquiat’s transcendence from the leading figure on the underground art scene, SAMO, to the established world of international art stardom. Untitled, 1981 is an emblem to this success, created at this precise moment in Basquiat’s career when he was channeling the raw energy of his street art into the medium of fine art. Executed on canvas and on a scale akin to the wall expanses he had previously utilized on the street of downtown New York City, Basquiat’s menacing warrior basks in a vibrant orange and crimson backdrop built up from broad swathes of acrylic paint. Laid down on peach ground, the anatomical makeup of Basquiat’s warrior emerges from scrawls of black, white and brown oilstick. Illuminating the figure from within, this haloed aura along with punctuations of yellow and black paint as well as metallic spra-paint come together to form a mandorla of sorts, a typical motif found in the rendering of Christ in Majesty. Fierce and intimidating, Basquiat’s regal warrior with glowing red eyes and bared teeth embodies the artist’s own feelings of triumph after his sudden rise to international art world fame. Just as Basquiat, the “king of the streets” had conquered the art world, his warrior too has been crowned king victorious. Replete with the graffiti-inspired text and imagery that first garnered Basquiat attention during his SAMO days, Untitled reinforces Basquiat’s street heritage and revels in it with the framing of this work with crowns, a motif that, along with the copyright sign and comic book seal, signifies Basquiat’s own personal emblem and seal of approval. Untitled has been held in the same collection since it was first seen in the artist’s studio in the basement of Annina Nosei’s gallery in 1982.

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