What is the story about?
What's Happening?
Sotheby’s is set to auction Jean-Michel Basquiat’s 'Crowns (Peso Neto)' from his first solo show, with estimates ranging between $35 million and $40 million. The painting, created in 1981, marks a pivotal moment in Basquiat’s career, transitioning from street artist to international art-market figure. The auction will be held at Sotheby’s new headquarters in the Breuer Building, New York, on November 18, 2025.
Why It's Important?
The sale of 'Crowns (Peso Neto)' underscores Basquiat’s enduring influence in the art world and the high value placed on his work. This auction highlights the continued demand for Basquiat’s art, reflecting his impact on contemporary art and culture. The estimated price range signifies the painting’s significance and the strong market interest in Basquiat’s early works.
What's Next?
The auction will attract collectors and art enthusiasts, potentially setting new records for Basquiat’s work. The outcome may influence future sales and valuations of similar artworks. Sotheby’s will continue to showcase high-profile pieces, reinforcing its position in the art market. The painting’s display in London prior to the auction will generate interest and anticipation among potential buyers.
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