Italian visual artist Maurizio Cattelan’s duct tape banana work titled “Comedian” is on display during a media preview at Sotheby’s auction house in New York on November 8, 2024.
Kayna Betancourt | AFP | Getty Images
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Cryptocurrency investor Justin Sun spent $6.2 million to buy a banana taped to a wall, highlighting the soaring value of cryptocurrencies and viral art.
Sotheby’s last night auctioned off the infamous banana titled “The Comedian” by Italian artist and cultural prankster Maurizio Cattelan. After fierce competition with six others, Sun emerged as the winner, bidding online and paying in cryptocurrency.
“This is more than just a work of art,” Sun said in a statement. “It represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community. I believe this piece will inspire more thought and discussion in the future and will become a part of history. I am honored to be This iconic work and look forward to it sparking more inspiration and influence for art lovers around the world.
On October 25, 2024, during a press preview at Sotheby’s auction house in New York, people admire Italian visual artist Maurizio Cattelan’s banana work “Comedian” sealed with duct tape. Unveiled in 2019, the viral artwork is one of three “editions” of the artwork that will go on sale again on November 20, 2024, with Sotheby’s estimating it to sell for between $1 million and $1.5 million.
Timothy A. Clary | AFP | Getty Images
“Comedian” became an instant hit when it debuted at Art Basel Miami in 2019 and sold for $120,000. An image of a banana taped to a wall, which sold for six figures, went viral on social media and attracted so many people that the work had to be removed. Three editions of “The Comedian” were created and sold, one of which was acquired by the Guggenheim Collection with the help of an anonymous donor, and the other two editions were purchased.
The seller of the Sotheby’s banana purchased it from an original buyer and is reselling it. For $6 million, Sun will receive a roll of tape, instructions on how to “install” the banana and, most importantly, a certificate of authenticity guaranteeing it is an original work by Cattelan. Banana is not included as it will rot quickly and will need to be constantly replaced for display.
Sun said in a statement that he planned to eat the banana “as part of this unique artistic experience that respects its place in art history and popular culture.”
Because the banana’s value is derived from the certificate, rather than the object itself, many in the crypto community liken it to an NFT. Sellers clearly understand this appeal and accept cryptocurrencies as a form of payment.
The sale is part of a series of auctions taking place in New York this week, with more than $1 billion worth of art being auctioned. After two years of decline, art market sales are rebounding, driven by recent stock market gains and increased post-election confidence among wealthy collectors.
Sotheby’s sold a Monet water lily painting for $65.5 million on Monday, and Christie’s sold a painting by Belgian surrealist Rene Magritte for $121 million on Tuesday.
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