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Banana on a Wall Sells for $6.2 Million – The World's Most Expensive Fruit
In a jaw-dropping moment for the art world, Maurizio Cattelan's controversial conceptual artwork, Comedian, featuring a banana taped to a wall, has sold for an astounding $6.2 million at a Sotheby’s auction in New York. The buyer? None other than cryptocurrency mogul Justin Sun, founder of the TRON platform. But how did a simple banana become one of the most expensive pieces of art ever sold? Discover the wild story behind this $6.2 million masterpiece and what it means for the future of art and value!
The famous prankster Cattelan's artwork "Comedian," which has been a topic of controversy since 2019, was sold at an auction at Sotheby's on Wednesday.
The piece, possibly the world's most expensive fruit, consists of a banana taped to a wall and was purchased for $6.2 million by Justin Sun, a Chinese-born cryptocurrency entrepreneur and the founder of the cryptocurrency platform TRON.
Sun quickly placed his bid, outbidding six competitors!
The auction for the highly anticipated piece started at $800,000. Within just a few minutes, the bids reached $2 million and quickly climbed to $4 million. At that point, auctioneer Oliver Barker announced, 'These are words I never thought I’d say: the banana has sold for $5.2 million.' With Sun’s bid of $5.2 million, the total paid, including fees, came to $6.2 million. The auction house took a $1 million commission from the sale.
The piece was initially estimated to sell for between $1 million and $1.5 million at Sotheby’s!
However, with Sun's $5.2 million bid, 'Comedian' sold for nearly six times more than the auction house’s prediction.
First exhibited in 2019 at Art Basel Miami Beach, the piece divided the art world!
The work made its debut at Art Basel Miami Beach, where Perrotin Gallery sold three editions of 'Comedian' for $120,000 to $150,000 each. While the banana was displayed on the wall, a performance artist, David Datuna, ripped it off and ate it. Some criticized the work, while others saw it as a powerful satirical tool.
So, what will happen to the $6.2 million banana taped to the wall?
The piece comes with a 'certificate of authenticity' and installation instructions, allowing the owner to replace the banana when it decays. The actual banana taped to Sotheby’s wall was purchased from a nearby fruit stand on Manhattan's Upper East Side for just 35 cents.
Michael Moses, who tracks the investment potential of art, discussed the declining or stagnant market returns over the past decade and said,
'This is a fascinating asset because people enjoy it so much that they're willing to accept lower returns. Enjoyment is no joke.' Sun, the owner of 'Comedian,' stated in a press release that the work represents 'a cultural phenomenon that connects the worlds of art, memes, and the cryptocurrency community.' Watching the auction from Hong Kong, Sun added, 'In the coming days, I will eat the banana myself, honoring its place in art history and popular culture as part of this unique artistic experience.'
In fact, "Comedian" also attracted attention when Sotheby’s manager Michael Bouhanna anonymously launched a cryptocurrency named after the satirical artwork!
Online traders accused Bouhanna of using information from the auction house and profiting financially from the increasing price of the token. Bouhanna, however, defended his actions, explaining that he chose to launch the token anonymously and did not want to associate it with his personal profile or professional connections. Italian artist Maurizio Cattelan has been described as 'one of the most clever provocateurs of Contemporary Art.'
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