Basquiat Up For Auction This Spring, Valued at $70 Million

The image above, Untitled (1982), is currently owned by Japanese billionaire entrepreneur Yusaku Maezawa, who bought the piece in in May 2016 for $57.3 million. He has decided to resell the painting, which is now estimated at $70 million. Basquiat’s work generated the second largest amount of money for any artist in 2021 (after Pablo Picasso), and this sale will surely add to that amount. Maezawa says, “I believe that art collections are something that should always continue to grow and evolve as the owner does. I also believe that it should be shared so that it can be a part of everyone’s lives.” However, he is also expected to make quite a lot of money from this auction.