Headlining the New York auction on May 14th is the imposing 1982 masterpiece titled Untitled (ELMAR). This nearly eight-foot-wide canvas portrays a contemporary interpretation of Icarus, teetering on the brink of descent from the heavens, with an archer aiming two arrows in his direction. Anticipated to fetch between $40 million and $60 million, Untitled (ELMAR) has been showcased in various prestigious exhibitions over the years, including Pellizzi's collection exhibition at New York's Hofstra Museum in 1989 and Basquiat's retrospective at the Fondation Louis Vuitton in Paris in 2018.
Also gracing the New York auction is the 1981 canvas Untitled (Portrait of a Famous Ballplayer), estimated to be sold for $6.5 million to $8.5 million. Following this, on May 31st in Hong Kong, Phillips will present Native Carrying Some Guns, Bibles, Amorites on Safari (1982) with an estimated price range of $12 million to $18 million.
Basquiat's artwork has garnered significant attention in the Asian market, as evidenced by the staggering sale of an untitled 1982 painting from Japanese mogul Yusaku Maezawa's collection for $85 million in May 2022. The artist's pieces have consistently commanded high prices, with Christie's selling a 12-foot-wide 1983 triptych from Valentino Garavani's collection for over $67 million during last year's May sales.
Robert Manley, deputy chairman and worldwide co-head of 20th-century and contemporary art at Phillips, emphasised Basquiat's enduring relevance and growing acclaim, citing the current Gagosian exhibition of the artist's work in Los Angeles as evidence of increasing momentum in Basquiat's market presence.
Jean-Michel Basquiat is known for his raw, expressive style and profound social commentary. His unique blend of graffiti, street poetry, and abstract imagery quickly garnered attention in the art world. Basquiat's rise to prominence was meteoric, and by the early 1980s, he had transitioned from street art to painting on canvas, exhibiting in galleries and gaining recognition for his distinctive aesthetic.
Basquiat's work often explored themes of race, identity, power, and capitalism, incorporating symbols, text, and references drawn from his Haitian and Puerto Rican heritage, as well as from African-American history and pop culture. His paintings, characterised by bold colours, frenetic brushwork, and layered symbolism, challenged conventional artistic norms and offered a profound critique of society.
In 1981, Basquiat's career reached new heights when he became the youngest artist ever to participate in the prestigious Venice Biennale. Throughout the 1980s, his work continued to gain acclaim, with solo exhibitions in galleries around the world and collaborations with renowned artists such as Andy Warhol.
Tragically, Basquiat's life was cut short when he passed away from a drug overdose on August 12, 1988, at the age of just 27. Despite his untimely death, Basquiat's artistic legacy endures, with his works fetching record prices at auction and continuing to inspire new generations of artists. Today, he is celebrated as a visionary artist who transcended boundaries and challenged the status quo, leaving an indelible mark on the art world.
Explore the most expensive Basquiat paintings or discover original Basquiat prints for sale and contact Andipa Editions via sales@andipa.com or call +44 (0)20 7589 2371,