The art world is buzzing with excitement as Jean-Michel Basquiat's 1982 painting "Warrior" has set a remarkable record, becoming the most expensive piece of western art ever sold in Asia. This historic sale, conducted by Christie's, took place in a unique manner that saw phone bidders from New York and Hong Kong vying for the coveted work. The final hammer price of $41.7 million, although at the lower end of the presale estimates, has shattered previous records, showcasing the soaring demand for high-value western art in Asia.
Interestingly, while the auction was marketed as part of Christie's Hong Kong efforts, it was technically held in London. This nuance highlights the growing interest and investment in western art by Asian collectors, marking a significant shift in the global art market landscape. The previous sales history of "Warrior" is also noteworthy, having sold for just $1.5 million in 2005, and later for $5.6 million two years after that.
Basquiat's work is often celebrated for its vibrant energy and powerful commentary on society. The painting "Warrior" was created during his most productive period between 1981 and 1982, a time recognized by art experts as his peak creative phase. Cristian Albu, an art expert, emphasized the importance of this period, stating that nine out of the top ten records for Basquiat's works come from these two years, underscoring the historical significance of "Warrior" in the context of contemporary art.
What You Will Learn
- "Warrior" is now the most expensive western artwork ever sold in Asia.
- The auction took place in London, with bidders from New York and Hong Kong.
- Previous sales of "Warrior" highlight its significant increase in value over time.
- Basquiat's peak creative period greatly influenced the value and significance of his artworks.
