A fresh banana, affixed to a wall by Italian artist Maurizio Cattelan, was sold for an astounding $6.2 million at a New York auction on Wednesday, November 20, igniting fresh debates about the essence of art.
The piece, titled “Comedian,” first debuted at Art Basel in Miami Beach in 2019, captivating audiences with its unconventional concept.
The banana, accompanied by a solitary strip of silver duct tape, found its new home in the hands of cryptocurrency entrepreneur Justin Sun. Sun described the artwork as more than mere decoration, referring to it as a cultural phenomenon that bridges the realms of art, memes, and the cryptocurrency industry.
Sun, the visionary behind the cryptocurrency exchange Tron, believes that this piece will continue to spark discussions and become a historical landmark. The auction, which drew the interest of seven bidders, surpassed all expectations, with the starting price ranging from $1 million to $1.5 million. This sale underscored a unique aspect of the artwork: Sun is essentially acquiring a certificate of authenticity for the piece, along with instructions on how to replace the banana as it deteriorates.
This sale marks the third iteration of “Comedian.” The original banana was famously consumed by performance artist David Datuna during the 2019 Miami exhibition. Sun has revealed his intention to partake in the artwork’s unique experience by consuming his own banana, further solidifying its connection to popular culture.
Cattelan, known for provocative works such as an 18-carat gold toilet titled “America” and a sculpture of the pope struck by a meteor, has long criticized the speculative nature of the art market. He had priced “Comedian” at $120,000 in 2019, a price tag that was initially seen as emblematic of the art world’s “madness.”
The banana, bought for just 35 cents from a fruit vendor in Manhattan, has emerged as a symbol of the burgeoning intersection between high art, cryptocurrency, and internet culture. Sun’s acquisition of this piece follows his other high-profile art purchases, including a $78.4 million Alberto Giacometti sculpture in 2021.
Despite the recent surge in cryptocurrency and NFT markets, the global art market has been grappling with a downturn, fueled by concerns over geopolitical instability and rising interest rates. However, recent auctions, such as the sale of René Magritte’s “Empire of Light,” which sold for over $121 million, continue to highlight the enduring allure of rare art.
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