NEW YORK (AP) — A conceptual artwork featuring a banana taped to a wall has fetched an astonishing $6.2 million at a New York auction, with the winning bid coming from Justin Sun, the founder of cryptocurrency platform TRON.
Entitled “Comedian” and created by Italian artist Maurizio Cattelan, this unconventional piece first made headlines in 2019 during its debut at Art Basel Miami Beach. Onlookers were left questioning whether the bright yellow fruit adhered to a white wall with silver duct tape was a witty jest or a comment on the sometimes absurd standards of art collecting. At one point, another artist even removed the banana and took a bite out of it.
The artwork’s unusual nature garnered substantial media attention, leading to its temporary withdrawal from public view. At the time, three editions of the piece were successfully sold, each at prices between $120,000 and $150,000, according to the gallery handling the sales.
Fast forward five years, and Sun’s recent purchase at Sotheby’s auction represents a leap in value, with his payment exceeding 40 times the original prices. However, this purchase is not of the banana itself but rather a certificate of authenticity. This certificate permits Sun to replicate the installation process by duct-taping a banana to a wall and officially labeling it “Comedian.”
During the lively Sotheby’s auction, which saw a packed room of attendees eagerly documenting the event on their phones, two attendants dressed in white gloves stood beside the banana, drawing even more attention to the provocative artwork.
Bidding began at $800,000 and surged quickly to $2 million, then to $3 million, and up to $4 million, while auctioneer Oliver Barker made light of the situation, playfully advising bidders, “Don’t let it slip away.” He added, “Don’t miss this opportunity. These are words I’ve never thought I’d say: Five million dollars for a banana.”
The final bid reached $5.2 million, excluding about $1 million in auction house fees, which are generally the responsibility of the buyer. Following the sale, Sun remarked that the piece symbolizes a cultural phenomenon weaving together the realms of art, memes, and cryptocurrency. He humorously indicated that the banana would not remain intact for long.
Sun stated, “Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture.”
Sotheby’s has described Cattelan as “one of Contemporary Art’s most brilliant provocateurs,” highlighting his consistent effort to challenge the established norms of the art world in impactful and often controversial ways.
This auction took place the day after a separate sale of a painting by Belgian surrealist René Magritte, which garnered a record-price of $121.2 million, the highest ever for the artist. “The Empire of Light,” which depicts a paradoxical nighttime street scene under a daytime sky, was sold during Christie’s auction of the collection belonging to the late interior designer Mica Ertegun, who passed away last year at 97.
This sale firmly places Magritte among an elite group of artists whose works have surpassed $100 million at auction, including legends like Leonardo da Vinci, Pablo Picasso, and Andy Warhol, as noted by the market analysis firm Artprice. Executed in 1954, “The Empire of Light” is part of a series of 17 variations on the same theme. Marc Porter, chairman of Christie’s Americas, pronounced the occasion a “historic moment in our saleroom.”
The $121.2 million price tag for Magritte’s painting also included auction house fees and was purchased by an anonymous telephone bidder.
