In a much-anticipated event for art enthusiasts, three seminal works by the iconic artist Jean-Michel Basquiat are set to go under the hammer at Phillips Auction House during its spring sales in both New York and Hong Kong. The paintings, crafted between 1981 and 1982, hold significant historical and artistic value, originating from the esteemed collection of anthropologist Francesco Pellizzi, who acquired them from Basquiat’s first dealer, Annina Nosei, in the early ’80s.
Leading the lineup in New York on May 14 is the imposing 1982 masterpiece, “Untitled (ELMAR)”. The nearly eight-foot-wide canvas portrays a contemporary rendition of Icarus, on the brink of descent from the heavens, juxtaposed with an archer aiming with two arrows. Anticipated to fetch between $40 million and $60 million, “Untitled (ELMAR)” has left an indelible mark on the art world since its creation. It has been showcased in prestigious exhibitions such as the Hofstra Museum in 1989 and the Fondation Louis Vuitton in Paris in 2018, underlining its enduring significance in Basquiat’s oeuvre.
Accompanying this centrepiece in New York is the 1981 canvas, “Untitled (Portrait of a Famous Ballplayer)”, with an estimated value ranging from $6.5 million to $8.5 million. Meanwhile, across the globe in Hong Kong on May 31, Phillips will present “Native Carrying Some Guns, Bibles, Amorites on Safari” (1982), projected to command between $12 million and $18 million.
Basquiat’s allure extends far beyond the confines of the Western art market, with Asia emerging as a particularly fervent arena for his pieces. Notably, in May 2022, a 1982 untitled painting from Japanese mogul Yusaku Maezawa’s collection soared to a staggering $85 million at auction. This phenomenal success underscores the transcendent appeal of Basquiat’s work across cultural and geographical boundaries.
The forthcoming auctions follow a string of notable sales that have propelled Basquiat’s legacy to new heights. Last year, Christie’s achieved a record-breaking $67 million for a 1983 triptych from the collection of renowned fashion designer Valentino Garavani, solidifying Basquiat’s status as one of the most coveted artists in contemporary art.
Commenting on the enduring allure of Basquiat’s creations, Robert Manley, deputy chairman and worldwide co-head of 20th-century and contemporary art at Phillips, emphasized the artist’s unwavering relevance and popularity. He cited the current exhibition of Basquiat’s works at the Gagosian Gallery in Los Angeles as indicative of the escalating momentum surrounding the artist’s oeuvre.
As anticipation builds for Phillips’ spring sales, collectors and connoisseurs alike eagerly await the opportunity to acquire these rare and culturally significant pieces. The auction represents not only a chance to own a piece of Basquiat’s legacy but also an investment in the enduring impact of one of the most influential artists of the 20th century. With Basquiat’s star continuing to rise, the stage is set for another chapter in the ongoing saga of his artistic immortality.