Home'Comedian' Sold for $6.24M in Cryptocurrency

‘Comedian’ Sold for $6.24M in Cryptocurrency

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The artwork first gained attention in 2019 when it debuted at Art Basel Miami Beach, initially priced at $120,000. Italian artist Maurizio Cattelan’s controversial piece, Comedian—a banana duct-taped to a wall—was sold at a Sotheby’s auction in New York for $6.24 million. The sale, following a six-minute bidding war, far exceeded its initial $1 million estimate, reigniting global debates about the value and definition of art.

When it first appeared at Art Basel, Comedian sparked widespread discussion with its simple composition: a banana affixed to a wall with silver duct tape, hanging 160 cm above the floor. This provoked debates over concepts of art and value, with many questioning whether it was a joke or a critique of dubious standards in the art world. Major media outlets such as NBC, Die Zeit, Fox, and ABC covered the sale.

At Sotheby’s, bidding for Comedian started at $800,000 and quickly escalated to $5.2 million, with offers coming from in-person attendees, phone bidders, and online participants. Auctioneer Oliver Barker seemed taken aback by the fervor, joking at one point, “Five million for a banana. That’s your expensive banana, Jen,” as he spoke to a Sotheby’s staff member.

Shortly after the auction, Justin Sun, the 34-year-old founder of cryptocurrency platform TRON, claimed to be the buyer of Comedian. Sun reportedly placed the winning bid over the phone and paid for the artwork using cryptocurrency. In a statement from Sotheby’s, Sun described Comedian as more than art, calling it a “It’s not just art. It represents a cultural phenomenon that creates bridges between the worlds of art, memes, and the cryptocurrency community” He added, “I believe this piece will inspire more thought and discussion in the future and will become a part of history.”

The sale of Comedian fueled polarized reactions, with some expressing disbelief, others being captivated, and some outright enraged. Critics noted that groundbreaking art often sparks outrage, while experts agreed that the piece was meant to be humorous while critiquing the absurdities of the art world. In a Sotheby’s video, Vogue editor Dodie Kazanjian remarked, “The important thing to know about Maurizio is that his jokes are serious and his serious work is funny” She added, “There’s something very deep in what Maurizio does, so the veneer of it might look like a banana, but there’s something else always at the core of what he’s saying,”

Cattelan, known for eccentric sculptures such as America—a solid gold toilet loaned to the White House—and La Nona Hora (The Ninth Hour), depicting Pope John Paul II struck by a meteor, described Comedian as “a reflection on what we value.” He explained, “Life is often tragic and comic at the same time. My works address these two facets.”

Art critic Nancy Durrant highlighted how Cattelan’s humor and use of comedy set him apart as an artist. Sotheby’s called him “one of contemporary art’s brightest provocateurs,” describing his works as revolutionary and encouraging audiences to question the meaning of art.

Comedian’s history of drawing attention dates back to Art Basel Miami Beach, where its popularity necessitated its removal for public safety and preservation of other artworks. On one occasion, performance artist David Datuna ate the banana, calling his act Hungry Artist. He faced no charges, and the banana was simply replaced, further fueling debates about the nature and ownership of art.

The buyer of Comedian receives a certificate of authenticity and instructions for replacing the banana as it inevitably decays. Cattelan specified that the banana should be replaced every 7 to 10 days, and it is the owner’s responsibility to maintain the artwork by attaching a fresh banana with duct tape as outlined.

Sotheby’s framed Comedian as part of “the historical legacy of conceptually daring masterpieces redefining what art can be,” drawing comparisons to works like Marcel Duchamp’s Fountain and Robert Rauschenberg’s Erased de Kooning Drawing. David Galperin, Sotheby’s head of contemporary art for the Americas, called Comedian “one of the most brilliant ideas in conceptual art history” and remarked, “There’s no better forum than the auction platform to determine the value of art and a single object.”

The sale of Comedian surpassed other notable transactions that evening, including Roy Lichtenstein’s Study for Oval Office, which sold for $4.2 million. It came just a day after a separate auction saw a painting by Belgian surrealist René Magritte sell for $121.2 million, setting a record for the artist.

Justin Sun expressed his intention to “honor Comedian’s place in art history and popular culture” by eventually eating the banana as a unique artistic experience. He remarked, “The latest version of ‘Comedian’ won’t last long.”

 

Martin joseph
Martin josephhttps://reportscoin.com
Hey, I’m Joseph! I’m a 22-year-old tech enthusiast who’s all about the future of finance. I got into crypto during my college years, and since then, it’s been a wild ride. I’m passionate about blockchain technology, NFTs, and how decentralized finance (DeFi) can empower everyday people. When I’m not reading the latest crypto news, I’m gaming, exploring new tech gadgets, or discussing the next big trends in Web3.

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