Exactly one year ago, Christie’s top lot was Andy Warhol’s Shot Sage Blue Marilyn (1964), which sold for an awe-inspiring $195m, making it the most expensive artwork ever sold at auction.
According to Christie’s, before landing in Garavni’s collection two decades ago, the painting previously belonged to publisher Enrico Navarra, a prominent Basquiat collector who died in 2020.
The painting will be offered as part of Christie’s Evening Sale on 15th May at Rockefeller Center in New York. Part of the proceeds will go to Accademia Valentino.
Three nights later, on the other side of town, another recognisable Basquait work will head to auction in Sotheby’s evening sale. Now’s the Time (1985), cut from a large plywood disk, mimics a vinyl pressing of the jazz legend Charlie Parker’s 1945 record of the same name. The artist paid homage to the musician as he, too, was a revolutionary black artist.
Photo by Pascal Le Segretain on Getty Images
Now’s the Time comes from magazine publisher’s collection Peter Brant, the only collector who has ever owned the painting. The work will go to auction in Sotheby’s New York on 18th May and is expected to fetch up to $30m.
The market for Basquiat’s work has grown significantly since his death 35 years ago, with his record at auction hitting $110.5m in 2017 when Japanese billionaire Yusaku Maezawa bought an untitled skull painting (1982) at Sotheby’s New York.
Alex Rotter, Christie’s Chairman of 20th and 21st Century Art, said, “The genius of Basquiat is undeniable. His presence and influence break boundaries, spanning fashion, art, and pop culture. The impact that he continues to have on culture is inescapable and only continues to expand. El Gran Espectaculo (The Nile) is a true masterwork. Painted when Basquiat was just 22, this seminal triptych perfectly illustrates the specific and nuanced way the young artist grappled with the process of understanding and unpacking historical constructs of race on a global stage. El Gran Espectaculo (The Nile) is simply unmatched in both calibre and provenance, and we are so pleased to announce it as the leading highlight this May.”
We’re proud to be offering our clients a selection of Basquiat’s works to add to their collection. Check out his works here.
Main Image: El Gran Espectaculo (The Nile) (1983)