Crypto investor pays $6 million for a banana — and plans to eat it
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Crypto investor Justin Solar paid $6.2 million for a banana duct-taped to a wall, highlighting the soaring values of crypto and viral art.
Sotheby’s last night auctioned off the atrocious banana, titled “Comedian,” created by Italian artist and cultural prankster Maurizio Cattelan. After a heated battle with six others, Solar emerged as the winner, bidding on-line and paying in crypto.
Italian visual artist Maurizio Cattelan’s duct-taped Banana entitled “Comedian,” is on describe for the length of a media preview at Sotheby’s in Contemporary York, on November 8, 2024.
Kena Betancur | Afp | Getty Photography
“Right here shouldn’t be any longer valid an art work,” Solar acknowledged in an announcement. “It represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency team. I mediate this fragment will encourage more thought and dialogue in the discontinuance and must change into half of history. I’m honored to be the proud owner of this iconic work and take care of up for it sparking additional inspiration and impression for art fans all the plan in which by the arena.”
“Comedian” shot to standing at its debut at Art Basel Miami Sea dart in 2019, priced at $120,000. The image of a banana duct-taped to a wall, and and priced at six figures, went viral over social media and attracted such vast crowds that the work needed to be eliminated. There possess been three editions of “Comedian” created and sold, with one going to the Guggenheim Series thanks to an nameless donor, and the opposite two bought.
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The seller of the Sotheby’s banana had bought it from indubitably one of the most standard traders and used to be reselling it. For his $6 million, Solar will win a roll of duct tape, directions on learn the solution to “install” the banana and (most considerably) a certificates of authenticity guaranteeing it as an normal work of Cattelan’s. The banana shouldn’t be any longer incorporated, since this can fleet rot and must be consistently modified for describe.
In his assertion, Solar acknowledged he plans to eat the banana “as half of this irregular inventive trip, honoring its predicament in each and each art history and popular culture.”
Folk survey at Italian visual artist Maurizio Cattelan’s duct-taped Banana entitled “Comedian,” for the length of a press preview at Sotheby’s in Contemporary York, on October 25, 2024. The viral art work used to be unveiled in 2019, and indubitably one of the most art work’s three “editions” is going abet on sale on November 20, 2024, and is estimated by Sotheby’s to promote for between $1m and $1.5m.
Timothy A. Clary | Afp | Getty Photography
Since the value of the banana is derived from the certificates, in predicament of the article itself, many in the crypto team likened it to an NFT. The seller, clearly knowing the allure, permitted crypto as a cancel of fee.
The sale used to be half of a sequence of auctions in Contemporary York this week, featuring higher than $1 billion value of art for sale. After two years of declines, the gross sales advocate a rebound for the art market, driven by doubtlessly the most modern stock market rally and increased postelection self perception by affluent collectors.
Sotheby’s on Monday sold a Monet water lilies describe for $65.5 million, and Christie’s on Tuesday sold a describe by the Belgian surrealist Rene Magritte for $121 million.
