Editorial / Art Market

Basquiat Painting Sells for $100 Million

16 Jun 2020

A painting by Jean-Michel Basquiat has been sold privately for over $100 million, an especially impressive result during the current climate caused by the coronavirus pandemic. Read below for all we know on the sale of the neo-expressionist masterpiece...

Although the current global troubles may have slowed-down what would normally be a bustling art auction season, a recent sale proves that, no matter the circumstances, Jean-Michel Basquiat’s work is among the hottest on the market.The legendary artist’s 1982 painting entitled 'Boy and Dog in a Johnnypump' was sold to Ken Griffin, a hedge fund manager and CEO of Citadel, for the staggering price of $100 million.

Boy and Dog in Johynypump by Jean-Michel Basquiat, 1982

Griffin is an avid art collector, a member of the Whitney Museum of American Art’s governing body; its lobby is inscribed with his name, and there’s also a wing named after him at the Museum of Modern Art.“The vast majority of Ken’s art collection is on display at museums for the public to enjoy” Zia Ahmed, a Citadel spokesman commented. “He intends to share this piece as well.” Jean-Michel Basquiat with his work photographed by Tseng Kwong Chi

'Boy and Dog in a Johnnypump' depicts a boy playing with a dog and is considered to be a monumental work for Basquiat, produced at a time when he was reaching the height of his talent.The exact price of the canvas has not been revealed, but the $100 million range is close to the artist's record auction price of $110.4 million, achieved in 2017 with 'Untitled (1982)' at a Sotheby's, New York. The result shattered the record for most expensive work by an American artist, which had held by Andy Warhol.

Head - Artist Proof by Jean-Michel Basquiat, 2001