Tuesday, November 18, 2008
Basquiat painting sells for $13.5M at NYC auction
5 days ago
NEW YORK (AP) — A painting by Jean-Michel Basquiat has been sold for $13.5 million at an auction in New York City.
The 1982 painting, "Untitled (Boxer)," was consigned to Christie's auction house by Lars Ulrich, drummer for Metallica. Christie's didn't identify the buyer.
The painting shows a black heavyweight fighter with his arms thrust in the air against a white graffiti-filled background. It surpassed its pre-auction estimate of more than $12 million.
The current auction record for a Basquiat is $14.6 million for "Untitled," which sold at Sotheby's last year.
Francis Bacon's "Study for Self-Portrait" didn't sell. Christie's says it had been estimated to sell for about $40 million.
(This version CORRECTS that Basquiat was consigned by Ulrich for sale NOT purchased by him; corrects price to $13.5 million from $14M; corrects overlines.) WOW! To know an African American sold a painting for 13.5 million, even though he's not alive to enjoy it, shows hope for my work if I keep at it! This is inspiring!!