Basquiat owned by Japan’s Maezawa sells for $85 mn

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New York (AFP) – Jean-Michel Basquiat’s “Untitled” 1982 sold for $85 million at auction in New York Wednesday, well above its pre-sale estimate and netting Japanese billionaire space tourist Yusaku Maezawa a tidy profit. Phillips auction house sold the 16-foot-wide painting on behalf of Maezawa, who purchased it in 2016 for $57.3 million. The auctioneers had tipped it to go for around $70 million. Phillips announced in a statement in March that it would put the artwork under the hammer. Maezawa, the mega-rich founder of Japan’s largest online fashion mall, said in the statement that the past s…

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