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For most art-world buyers, a work unsubtly called “Comedian” lacked a certain a-peel. But on Wednesday, Cattelan got the last laugh as “Comedian” sold for $6.24 million, including $1 million in fees. The buyer was soon revealed to be Justin Sun, a 34-year old cryptocurrency platform founder from China and based in Switzerland. And while some who have capitalized on those assets will inevitably purchase art, artworks themselves have their own rates of return that depend more on evolutions in taste that don’t correlate with wider macroeconomic trends. Sun, the “Comedian” buyer, used his own cryptocurrency, TRX, to make the purchase, Sotheby’s said.
Persons: , Maurizio Cattelan, Cattelan, Justin Sun, Sun, ” Sun, ” David Galperin, Sun’s, Alex Glauber, , ” Glauber, Leonardo da Vinci’s “ Salvatore Mundi ”, Glauber, Duchamp, Marcel Duchamp, Jianping Mei, Michael Moses, JP Mei, ” Moses, “ It’s, Moses, Sotheby’s, CoinMarketCap, Robb, Robert Allen Organizations: Basel, Association of Professional Art Advisors, The New York Times, Moses Art Market Consultancy, NBC News, Sun Locations: Italian, Miami, China, Switzerland, Americas, South Florida, millennials, Europe, South America
And now, an extremely rare first edition of his most famous work, the political manual “The Prince,” is going up for auction, with an expected sale price of up to £300,000 ($375,000). The copy of the early 16th-century book is one of only 11 first editions to be recorded, according to auction house Sotheby’s. The book was printed in 1532 and bound with Machiavelli's "Florentine Histories" in an Italian binding, according to Sotheby's. Heaton said the auction house is “delighted” and “excited” to offer the “incredibly rare book” at Sotheby’s in London in its next Books & Manuscripts auction, which runs from November 28 to December 12. The political treatise, dedicated to Florentine ruler Lorenzo di Piero de’ Medici, was circulated as a manuscript before Machiavelli’s death in 1527.
Persons: Niccolò Machiavelli, , ” Gabriel Heaton, Heaton, , Machiavelli, , Medici, Prince ”, Lorenzo di Piero de ’ Medici, Biagio Buonaccorsi, ” Machiavelli Organizations: London CNN, Sotheby’s, CNN, Catholic Church Locations: Italian, Italy, Sotheby’s, London, Florentine, Casciano
Grocery inflation just hit its peak after a single banana was sold for $6.2 million on Wednesday. Cryptocurrency entrepreneur Justin Sun dropped over $6 million on the piece of produce — because it was duct-taped to a wall. The banana is part of a piece of artwork called "Comedian," created by the Italian artist and satirist Maurizio Cattelan. People view Maurizio Cattelan's "Comedian" on Oct. 25, 2024, in New York City. But the value of the artwork is not in the banana itself — it's derived from the certificate accompanying the purchase.
Persons: Justin Sun, Maurizio Cattelan, Maurizio Cattelan's, John Nacion, Sun, , Sun's, , ” David Galperin Organizations: Getty, CNBC, Associated Press, Art Basel Miami Locations: Italian, New York City, John
But artist Maurizio Cattelan’s viral creation, titled “Comedian,” has proven a sound investment for one collector: One of the artwork’s three “editions” smashed estimates to sell for $6.24 million at a Sotheby’s auction in New York on Wednesday. The auction house had estimated the work to go for between $1 million to $1.5 million; bidding began at $800,000. Prior to the sale, Sotheby’s confirmed to CNN that neither the tape nor, thankfully, the banana are the originals. The Miami installation was eventually removed amid public safety concerns, but all three editions were sold at the fair. In interviews given since the Miami installation, Cattelan has described “Comedian” as a work of commentary.
Persons: Maurizio Cattelan’s, , , Oliver Barker, Sotheby’s, Justin Sun, ” Sun, , , Marcel Duchamp’s, David Datuna, David Galperin, ” Galperin Organizations: CNN, Art Basel Miami Beach, Guggenheim, Art Newspaper, Leeum Museum of Art, Seoul National University Locations: New York, Miami, Americas, Seoul, South Korea, London, Paris, Milan, Hong Kong, Dubai, Taipei, Tokyo, Los Angeles
A banana duct-taped to a white wall — or an acclaimed piece of art, depending how you look at it — sold at a Sotheby's auction for $6.24 million on Wednesday. The artwork debuted at Art Basel Miami Beach in December 2019 and was initially estimated to sell around $1.5 million, according to Sotheby's. At one point, someone even took the banana off the wall and ate it. According to Sotheby's, Cattelan "single-handedly prompted the world to reconsider how we define art, and the value we seek in it." As Galperin put it, "There is no better forum to adjudicate the value of art and a single object than the platform of auction."
Persons: , Maurizio Cattelan's, Nancy Durrant, Maurizio Cattelan, David Galperin, Sotheby's, rhapsodically, Durrant, Lucius Elliot, Durrant —, Elliot, Maurizio, Emmanuel Perrotin, Perrotin, Galperin Organizations: Art Basel Miami Beach, Art Basel, Americas, New, New York Post, Vogue Locations: New York
Duct tape banana sells for $6.2 million
  + stars: | 2024-11-21 | by ( Robert Frank | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDuct tape banana sells for $6.2 millionCNBC's Robert Frank joins 'Squawk on the Street' to report on the massive number a crypto founder paid for 'art' of a banana duct taped to a wall Sotheby’s auction.
Persons: Robert Frank
A banana that for years has stirred controversy in the art world sold for $6.2 million with fees at Sotheby’s contemporary art auction on Wednesday night. It became what is arguably the most expensive fruit in the world — though it will likely be tossed in a couple days. It comes with a certificate of authenticity and installation instructions for owners to replace the banana — if they wish — whenever it rots. “Returns in the market have been flat or decreasing over the last decade,” said Michael Moses, who tracks the investment potential of artworks for clients. “It’s a fascinating asset because you can get so much joy from it that people are willing to accept lower returns.
Persons: , Maurizio Cattelan, Justin Sun, Michael Moses, , Joy, Sun Locations: Chinese
CNN —A stained-glass Tiffany window originally designed for an Ohio church has sold for $12.48 million at auction. This is the first time the window has come to auction in 24 years and the sale sets a new auction record for Tiffany Studios. It sold for $2 million back in 2000, which was a world record for a Tiffany window at that time. That was the “thematic precursor” for the Danner Memorial Window 10 years later, Sotheby’s said in a press statement. The museum acquired Garden Landscape, designed in 1912, a three-part window designed by Northrop, last year.
Persons: Danner, Louis Comfort Tiffany –, Tiffany, Charles Lewis Tiffany –, Agnes Northrop, Northrop, Sotheby’s, John, Terressa Danner, Alan Gerry, Jodi Pollack, Louis Comfort Tiffany, Agnes Northrop’s Organizations: CNN, Tiffany Studios, Reformed, Baptist Church, Metropolitan Museum of Art, Northrop Locations: Ohio, York, Sotheby’s, Reformed Church, Flushing, New York, Canton , Ohio
Art on the auction blockA little more than half of Phillips, Christie’s and Sotheby’s sales — which will carry the three aforementioned art pieces — were based in New York, where 34 of the top 50 auction lots were sold in 2023, according to an Art Basel and UBS Art Market Report. Christie’s is auctioning 689 lots this week as part of the November art auctions. But Todd Levin of Levin Art Group was skeptical that tax cuts would do much for the art market. Interest ratesAnother drag on the art market over the last few years: high interest rates. A signal for what’s to comeNew York’s art auctions in the spring and fall could be a sign of things to come for the global art market, according to Woodham.
Persons: Maurizio Cattelan’s, , Andy Warhol’s “, Rene Magritte’s “, Sotheby’s, Phillips, Merrill Lynch, Donald Trump, Alex Glauber, ” Glauber, Christie’s, René Magritte, Marc Porter, Hiroko Masuike, Trump, bode, Todd Levin, “ It’s, Doug Woodham, , Fernando Botero's, Kena Batancur, Glauber, Amy Whitaker, , ” Whitaker Organizations: New, New York CNN, Andy Warhol’s “ New York Skyscrapers, of, Christie’s, Association of Professional Art Advisors, CNN, Art Basel, UBS Art, New York Times, UBS Survey, Global, Trump White, Levin Art, Federal Reserve, Trump, NYU Steinhardt Locations: New York, Belgian, Christie’s Americas, Woodham, AFP, Miami
The necklace has been worn at two British coronations and may contain diamonds from the infamous necklace at the heart of a scandal that tainted the reputation of Marie Antoinette, the last queen of France. The exact origins of the necklace have not been recorded, with Sotheby’s stressing it does not know for certain. That history centers on Louis XV, the king of France, who commissioned a lavish diamond necklace for his mistress, Madam Du Barry, in 1722 — two years before he died of smallpox. Marie Antoinette, the country's new queen consort, declined to buy the necklace despite her reputation for extravagance. In 2022, bracelets that once belonged to Marie Antoinette sold for more than $8 million at auction, also in Geneva.
Persons: Marie Antoinette, France, Sotheby’s, ” Andres White Correal, , ” White Correal, Louis XV, Madam Du Barry, Jeanne de La Motte, Marchioness, Paget, Queen Elizabeth II Organizations: Reuters, Louis Locations: Geneva, France, Anglesey
CNN —Visitors to New York City’s famed Flatiron Building may have noticed the landmark’s lesser-known neighbor — a narrow high-rise that would be modest if not for its extravagant gold dome. Now, the 5,777-square-foot penthouse that occupies the shimmering dome (and the two-story octagonal cupola it crowns) is on sale for $25 million. The five-bedroom, five-bathroom property sits atop 170 Fifth Avenue, which was built in 1898 and predates the Flatiron Building by four years. The building has been standing four years longer than its famous neighbor, the Flatiron Building. Alexander Alland, Jr. /Corbis Historical/Getty ImagesHaving once contained various businesses, including a publishing house, 170 Fifth Avenue was converted into a condominium at the turn of the millennium.
Persons: Eitan Gamliely, , Lawrence Treglia, it’s, Treglia, Robert Maynicke, Maynicke, Jay Maisel, Alexander Alland, Gregory C, Carr, ” Treglia Organizations: CNN, Visitors, New York Times, Tiffany Locations: New York, York, preschools, Mozambique
CNN —The oldest known tablet inscribed with the Ten Commandments from the Old Testament is expected to fetch up to $2 million when it goes up for auction next month. The ancient stone will be on show in Sotheby's New York showroom from December 5, before going on sale later in the month. The inscription was placed face upward and the stone was exposed to heavy foot traffic. According to a press statement sent to CNN by Sotheby’s, which will auction the tablet in New York next month, the stone was sold to a scholar in 1943. Last year, a Hebrew Bible more than 1,000 years old was sold for $38.1 million at Sotheby’s in New York.
Persons: Samaritanism, Gerizim –, Zion, Sotheby’s, , Gerizim, Richard Austin, Sassoon Organizations: CNN, Sotheby’s, Bank – Locations: Israel, Sotheby's New York, New York, York
CNN —A sculpture bought for just £5 ($6) and used as a doorstop could sell for more than £2.5 million ($3.2 million) after a Scottish court gave the green light for its sale. In 1998, the bust was found being used to keep open a shed door on an industrial park, according to the Highland Council. In a May report on the proposed sale, the Highland Council said a private overseas buyer had contacted auction house Sotheby’s and put forward an offer of more than £2.5 million. Following a public consultation earlier this year, members of a council committee recommended that the bust should be sold. By June, the wider council had agreed to the proposal, the spokeswoman told CNN.
Persons: Edmé Bouchardon, John Gordon, Gordon, , Invergordon, Organizations: CNN, Scottish Highlands, region’s Highland Council, Highland Council, Getty Museum, ” CNN, Central Michigan University Locations: Tain, Invergordon, Paris, Los Angeles
The paintings depict British computer scientist, mathematician and codebreaker Alan Turing. “There’s a slightly apocalyptic view of AI art wiping out everybody. for good’ which led to Ai-Da bringing up Alan Turing as a key person in the history of A.I. “’AI God,’ a portrait of pioneer Alan Turing, invites viewers to reflect on the god-like nature of AI and computing while considering the ethical and societal implications of these advancements. Alan Turing recognised this potential, and stares at us, as we race towards this future,” the robot added.
Persons: Alan Turing, , Ai, Aidan Meller, Turing, Meller, , Alastair Sooke, Pablo Picasso, ” Ai, Da, she’s, , Turing’s, Sotheby’s Organizations: CNN, British Locations: New York, British, Cornwall, England, Turing’s
CNN —A pair of rare Ming Dynasty fish jars dating from the 16th century have sold for £9.6 million ($12.5 million) at auction, smashing their estimate of £1 million ($1.3 million). “This remarkable result makes it the highest priced Chinese work of art sold at auction worldwide this year,” said Sotheby’s. Part of the lot’s appeal was the fact that this was the first ever appearance of a complete pair of fish jars with covers at auction. There is only one other covered pair known to be maintained together, and they are held by the Musée Guimet in Paris. Tristan Fewings/Getty ImagesIn addition, there are only three known single jars that still have covers, all of which are in private collections.
Persons: , Tristan Fewings, Sotheby’s “, , Nicolas Chow, ” Chow, you’ve, Organizations: CNN Locations: Asia, Paris, Wiesbaden, China, Europe
CNN —A rare letter signed by three of the founding fathers of the United States is going on sale, and is expected to fetch up to $1 million when it goes under the hammer next week. “An important expression of the emerging American policy of free trade, likely the only available example of any letter signed by all three of these Founding Fathers, the men most responsible for the Declaration of Independence,” said Bonhams in a listing on its website. Bidding starts at $550,000, and the letter is expected to fetch up to $1 million when it goes under the hammer on November 12. Objects and artifacts linked to the founding fathers often prove popular at auction, attracting astronomical bids. In 2017, manuscripts, personal letters and hundreds of other documents from founding father Alexander Hamilton’s desk sold for a total of $2.6 million at Sotheby’s in New York, according to the auction house.
Persons: John Adams, Benjamin Franklin, Thomas Jefferson, , Adams, Jefferson, Commerce ’, Alexander Hamilton’s, George Washington’s Organizations: CNN, America, Commerce, Congress Locations: United States, amity, Franklin, Amity, Independence, New York
But on Saturday, at the LACMA Art+Film Gala in Los Angeles, Kardashian debuted another cultural artifact — a diamond-lined cross pendant, once a favorite of Princess Diana. Alberto E. Rodriguez/WireImage/Getty ImagesKardashian bought the piece for £163,800 (around $212,000) in January 2023 during the final five minutes of a Sotheby’s auction. Her red carpet appearance over the weekend marked the first time the necklace has been worn in public since Diana’s death in 1997. Kardashian styled the necklace differently, shortening the pearl chain significantly, and wearing it alongside a stack of jewels, including a six-strand pearl choker. “Why are we still giving this woman precious heirlooms like Diana’s necklace after she broke Marilyn’s dress,” wrote one commenter on Instagram.
Persons: CNN — Kim Kardashian, Marilyn Monroe, Janet Jackson, Jackie Kennedy, Elizabeth Taylor’s, Lorraine Schwartz, Michael Jackson, Kardashian, Princess Diana, Alberto E, Rodriguez, Garrard, Naim Attallah, Diana, Catherine Walker, Kim, neckline, , Kristian Spofforth Organizations: CNN, CNN’s Royal Locations: Los Angeles, Palestinian, British, London
But artist Maurizio Cattelan’s viral creation, titled “Comedian,” may yet prove a sound investment: On Friday, auction house Sotheby’s announced that one of the artwork’s three “editions” is going back on sale — this time with an estimate of $1 million to $1.5 million. “‘Comedian’ is a conceptual artwork, and the actual physical materials are replaced with every installation,” an auction spokesperson said via email. The Miami installation was eventually removed amid public safety concerns, but all three editions were sold at the fair. In interviews given since the Miami installation, Cattelan has described “Comedian” as a work of commentary. An installation shot of "Comedian" released by Sotheby's auction house ahead of the sale.
Persons: Maurizio Cattelan’s, , Sotheby’s, , , Marcel Duchamp’s, David Datuna, David Galperin, ” Galperin Organizations: CNN, Art Basel Miami Beach, Guggenheim, Art Newspaper, Leeum Museum of Art, Seoul National University Locations: Miami, New York, Americas, Seoul, South Korea, York, London, Paris, Milan, Hong Kong, Dubai, Taipei, Tokyo, Los Angeles
Editor’s Note: This article was originally published by The Art Newspaper, an editorial partner of CNN Style. CNN —Sotheby’s will sell its first work credited to a humanoid robot using artificial intelligence (AI) later this month. Portrait of Alan Turing (2024)” was created by Ai-Da Robot, the artist robot and brainchild of British gallerist Aidan Meller. The work "AI God Polyptych," by Ai-Da Sotheby’sBut Ai-Da is more than a pretty face. Read more stories from The Art Newspaper here.
Persons: CNN —, “ A.I, Alan Turing, , Ai, Aidan Meller, Meller, CNN’s Anna Stewart, gallerist, Da, Aidan Mellor, Mellor, Turing, Sotheby’s, , Marcel Duchamp, Lucy Seale, ” Ai, Polyptych, I’m Organizations: The Art, CNN, United, CBS, Digital Locations: Geneva, United Nations
Legendary quarterback Tom Brady is putting his valuable watch collection up for sale. Tom Brady’s Audemars+Piguet watch up for auction at Sotheby’s. Sotheby’sIt wasn’t until Brady’s first Super Bowl in 2002 that his collection really took off. The highlights of the sale include a white gold and diamond-set flying tourbillon Royal Oak with bracelet by Audemars Piguet. The auction houses are also investing more in watches, with the major auction houses increasing their watch lots by 50% over last year, according to EveryWatch.
Persons: Tom Brady, , Philippe, Audemars Piguet, “ I’ve, ” Brady, , timepieces, Richard Lopez, Sotheby’s, Tom Brady’s, Brady’s, Brady, Richard Mille, Baby Nadal, Philippe Nautilus, Brahm Wachter, EveryWatch Organizations: Rolex, IWC, Netflix, Super, National Football, Tampa Bay Buccaneers Locations: Sotheby’s
CNN —A diamond necklace that has been worn at two British coronations, and is thought to have stones from the infamous necklace at the heart of a Marie-Antoinette scandal, is expected to fetch up to $2.8 million at auction. PA Images/Getty ImagesAfter the family parted with the diamond piece in the 1960s, it was exhibited in the American Museum of Natural History before being acquired by a private collector. Sotheby'sThe piece consists of three rows of diamonds that trail on either side into a diamond tassel. A glittering scandalSome of the diamonds from the necklace may have come from the piece at the heart of the “Affair of the Diamond Necklace” scandal, according to the auction house. The necklace, in the hands of a trickster, had in the meantime actually been broken up and sold in London.
Persons: Marie, Antoinette, Royal, Noble, Sotheby’s, Marjorie Paget, marchioness of, King George VI, Queen Elizabeth II, Lady Woolton, Marquess, Marchioness, , Andres White Correal, Hope Diamond, Louis XVI, of, Queen Organizations: CNN, Westminster Abbey, American Museum of Locations: Sotheby’s, London, Geneva, Switzerland, Anglesey, marchioness of Anglesey, Europe, Middle, Golconda, of France
CNN —A rare painting from René Magritte’s famous “L’empire des lumières” series is estimated to sell for more than $95 million at Christie’s New York this fall, a sum that would break the Surrealist artist’s record at auction and represent a major win for the auction house after softened sales across the industry. “L’empire des lumières,” from 1954, is one of the 27 paintings in which Magritte explored light by painting a sunlit sky above a darkened street scene. René Magritte's L'empire des lumières Courtesy of Chrstie’sThe present painting comes from the estate of the late Mica Ertegun, an interior designer who was married to Ahmet Ertegun, a co-founder of Atlantic Records and a prolific art collector. “But of all the works she lived with, Magritte’s ‘L’empire des lumières’ most nearly captures her aesthetic philosophy in its balance and restraint,” Max Carter, Christie’s vice chairman of 20th and 21st century art, said in a statement. Last week, the auction house revealed it is acquiring Gooding & Company, a collector car auctioneer, 17 years after exiting the car market.
Persons: René, Magritte, Mica Ertegun, Ahmet Ertegun, Joan Miró, David Hockney, Ertegun, Andy Warhol, Magritte’s, ” Max Carter, Ertegun Magritte, Christie’s Organizations: The Art, CNN, Christie’s, Belgian, Atlantic Records, Humanities, Oxford University , Jazz, Lincoln Center, Fund, Gooding & Company Locations: York, , Sotheby’s, London, New York
There are just a few creases and tiny discolorations, even though it’s just a few weeks shy of 237 years old and has spent who knows how long inside a filing cabinet in North Carolina. Auctioneer Andrew Brunk pictured with the 1787 copy of the US Constitution at Brunk Auctions in Asheville, N.C., on September 5, 2024. Two years ago, a property was being cleared out in Edenton in eastern North Carolina that was once owned by Samuel Johnston. He was the governor of North Carolina from 1787 to 1789 and he oversaw the state convention during his last year in office that ratified the Constitution. The document was found inside this filing cabinet in Edenton, North Carolina.
Persons: Seth Kaller, it’s, , Charles Thomson, Andrew Brunk, Jeffrey Collins, AP Thomson, Samuel Johnston, Johnston, , Kaller, George Washington, Brunk Organizations: WE, Brunk, Constitutional, AP, United, New York, Continental Congress, Constitutional Convention Locations: Asheville, N.C, North Carolina, Asheville , North Carolina, United States, Edenton, Edenton , North Carolina, Independence, New, Hillsborough
The auction house believes this to be the highest sum ever paid for an artwork at a Maine auction. Thomaston Place Auction GallerieLost from the recordsRembrandt scholar Gary Schwartz said a potential buyer had earlier sought his opinion on the Maine portrait. 03:09 - Source: CNNArt historian Volker Manuth, who authored publisher Taschen’s 2019 monograph “Rembrandt: The Complete Paintings,” told CNN he was also approached by a potential buyer of the Maine portrait. But inclusion in a major catalog, or the backing of a big auction house, can increase a painting’s value manyfold. Schwartz suggested that, should the Maine portrait receive similar endorsement, it might be revalued at up to $5 million.
Persons: Kaja Veilleux, , Veilleux, Rembrandt —, Rembrandt, Kaja, Gary Schwartz, , Schwartz, ” Schwartz, “ Rembrandt, Volker Manuth, Taschen’s, , reattributed, Rembrandt ”, Sotheby’s, Winter Organizations: CNN, Philadelphia Museum of Art, Academy of Fine Arts, Radboud University, Research, Christie’s, New York Times Locations: Camden , Maine, Thomaston, Europe, Maine, Academy of Fine Arts Vienna, Netherlands, Philadelphia , Pennsylvania, Vienna
Auction sales during Monterey Car Week fell 3% from last year, as a shift from older to newer cars left a pileup of unsold classics from the 1950s and 1960s. Of the 1,143 cars up for sale, only 821 sold — marking a 72% sell-through rate, according to Hagerty. There were simply too many similar cars at too many auctions to generate strong prices and sales. "It's saturation," said Simon Kidston, the founder of Kidston and a leading advisor to wealthy car collectors. At the same time, a new generation of collectors driving the market — mainly Gen Xers and millennials — prefer cars from the 1980s, 1990s and 2000s.
Persons: Robert Frank, Bonhams —, Simon Kidston, Xers, millennials Organizations: Monterey Car, Arrow, Gooding & Company, Ferraris, Credit, Gooding, Company, Ferrari, Sotheby’s Locations: Monterey —, Monterey
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