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May 22, 2017 | Via NPR

American Painting Sells For $110.5 Million

On Thursday night a 1982 painting by Jean-Michel Basquiat sold for a record $110.5 million at an auction for contemporary art; the sixth most expensive work ever to be sold at auction. “Tonight, Jean-Michel Basquiat entered the pantheon of artists whose works have commanded prices over $100 million, including Picasso, Giacometti, Bacon, and Warhol,” said Gregoire Billault, head of Sotheby’s Contemporary Art Department in New York. A Japanese art curator purchased the piece which he will showcase in his museum in Chiba after loaning it to institutions and exhibitions around the world.

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