Banana Taped to Wall Sells for $6.2M at Sotheby's

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Facts

  • Italian artist Maurizio Cattelan's conceptual artwork "Comedian," consisting of a banana attached to a wall with duct tape, sold for $6.2M at Sotheby's contemporary art auction in New York on Wednesday.[1][2]
  • The artwork, which was bought by Chinese cryptocurrency firm founder Justin Sun, comes with a certificate of authenticity and instructions for replacing the banana when it rots. This comes after the piece debuted at Art Basel Miami Beach in 2019.[1][3]
  • During its initial exhibition at Art Basel, the artwork drew such large crowds that it had to be removed from display. It was also eaten twice at two separate art installations.[1][3]
  • The final selling price significantly exceeded the initial estimate of $1-1.5M, with seven bidders — beginning at $800K — competing for the controversial piece during five minutes of rapid bidding.[4][5]
  • The artwork includes specific installation requirements, including hanging the banana exactly 160 cm (63 inches) from the floor. It's described by Sotheby's as belonging to "the rare league of artworks that need no introduction."[3][6]
  • The sale occurred during a prestigious auction featuring works by renowned artists like Roy Lichtenstein and Jasper Johns, while a Monet 'Water Lilies' painting sold for $65.5M at the same auction house.[7]

Sources: [1]The Wall Street Journal, [2]The Guardian, [3]NBC, [4]The New York Times, [5]Breitbart, [6]FOX News and [7]New York Post.

Narratives

  • Narrative A, as provided by Paintvine. "Comedian" offers a compelling critique of both art and society. Its temporary nature challenges traditional notions of permanence, while its simplicity mocks the commodification of art. By transforming an everyday object into a high-value piece of conceptual art, the piece provokes debate on wealth, accessibility, and what truly defines art. With society now debating the absurdity of this creation, Maurizio Cattelan has achieved his goal.
  • Narrative B, as provided by Substack. Modern art is all too often not some unique form of social commentary but essentially a money laundering scheme. Its low production costs and subjective valuation often allow for inflated prices that disguise illicit transactions. It's sad that the art industry, which used to be led by the classics, has often been hijacked by those who either wish to commit financial fraud or degenerate culture itself.