A $10million Jean-Michel Basquiat painting to be sold at auction
Jean-Michel Basquiat’s painting Victor 25448 is heading to auction with a valuation of $10million (£9.1m).
Basquiat, whose work often acted as a social commentary of the climate he lived in, attempted to act as the “springboard to deeper truths about the individual”. His merging of poetry, drawing, and painting within abstract contemporary art saw his work reach mainstream acclaim in the 1980s prior to his untimely death at the age of 27.
In 2017, Basquiat’s 1982 painting (“Untitled”) which depicts a skull, was sold at Sotheby’s for a record $110.5 million – an amount which set a record for any American artist at auction. Given the extreme value of his work, yet another piece is heading to auction.
In a sale hosted by Phillips’ Auction House, Basquiat’s 1987 painting Victor 25448 has been given an official valuation of between $8 million to $12 million. The event will take place on July 2nd in New York as part of the planned 20th Century & Contemporary Art Evening Sale.
“This remarkable and timely painting by Basquiat during a tumultuous time in his career showcases the artist’s continuing relevance more than three decades after his death,” Robert Manley, Phillips Deputy Chairman and Worldwide Co-Head of 20th Century and Contemporary Art, said in a statement.
“Phillips has long championed Basquiat’s work and has worked closely with the artist’s estate; we are thrilled to offer such an expressive and superlative painting on paper today,” he added.
The aforementioned painting was one of of the works included in Basquiat’s final exhibition, a 1988 show held at the Vrej Baghoomian Gallery.