Basquiat owned by Japan's Maezawa sells for $85 million -- May 19
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. Ahead of its sale, the massive artwork went on an international tour, being displayed in London, Los Angeles and Taipei. Maezawa, who in 2017 set a new auction record for Basquiat works when he paid $110.5 million for another painting by the 20th century giant, has said he plans to create a new museum to exhibit his collection.

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