A duct-taped banana sold for $6.2 million on Wednesday, Nov. 20, in New York City. The work of art by Italian artist Maurizio Cattelan is called “Comedian.”
After more than six minutes of bidding at Sotheby’s auction house, the winner was declared. Justin Sun, the Chinese-born founder of the cryptocurrency platform TRON, who watched the auction from Hong Kong, was the work’s new owner.
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“Comedian” comes with installation instructions — 14 pages — that double as the certificate of authenticity. It instructs the owner to replace the fruit when needed with a supply of his own and to position the banana so it curves to the right and always displays vertically.
The piece was estimated to fetch between $1 million and $1.5 million, but bidders went far beyond that to be the top banana. Cattelan has said he crafted his work as a satirical jab at market speculation.
“Comedian” first debuted at a Miami Beach art event in 2019, where the Perrotin Gallery sold three editions for between $120,000 and $150,000 each. However, the work proved “ripe for the taking” for one performance artist, David Datuna, who ripped the banana right off the wall and ate it.
The piece has even caused an uproar in the crypto world. Earlier this month Sotheby’s executive Michael Bouhanna created a memecoin, crypto inspired by online trends or memes, based on Cattelan’s banana called “BAN.” It was direct competition with another “Comedian”-inspired memecoin minted in August called “BTW,” short for “banana tape wall.”
Sun said he will pay for the work in crypto. But what did the tycoon find so “appealing” about the duct-taped banana?
In a statement, Sun said the work “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.”
As for what he’ll do with it, he plans to “personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture.”
HOW MUCH WOULD YOU PAY FOR A BANANA DUCT-TAPED TO A WALL?
IF YOU SAID MORE THAN SIX POINT TWO MILLION DOLLARS THEN YOU SHOULD’VE BEEN AT SOTHEBY’S IN NEW YORK ON WEDNESDAY NIGHT – AND YOU WOULD’VE WON THIS PIECE OF ART THAT HAS MADE COLLECTORS GO BANANAS.
“Fair warning now, to all of our global bidders at 5, 200,000. Here it goes at the end of the global tour, slipping through the auction room, at 5, 200,000, and I’m going to sell it here. Fair warning, at $5, 200,000, Jen, the Cattelan is yours. Congratulations, indeed.
ADD AUCTION HOUSE FEES TO THAT FIVE MILLION TWO AND YOU GET THE SIX POINT TWO MILLION DOLLARS THE PIECE KNOWN AS “COMEDIAN” BY ITALIAN ARTIST MAURIZIO CATTELAN SOLD FOR AT AUCTION AFTER FIVE MINUTES OF BIDDING.
THE WINNER WAS JUSTIN SUN – THE CHINESE-BORN FOUNDER OF THE CRYPTOCURRENCY PLATFORM TRON – WHO WATCHED THE AUCTION FROM HONG KONG.
THE WORK COMES WITH INSTALLATION INSTRUCTIONS — 14 PAGES THAT ALSO DOUBLE AS THE CERTIFICATE OF AUTHENTICY. IT INSTRUCTS THE OWNER TO REPLACE THE FRUIT WHEN NEEDED WITH A SUPPLY OF HIS OWN AND TO POSITION THE BANANA SO IT CURVES TO THE RIGHT – ALWAYS DISPLAYING IT VERTICALLY.
THE PIECE WAS ESTIMATED TO FETCH BETWEEN 1 MILLION DOLLARS AND 1 POINT 5 MILLION DOLLARS – BUT BIDDERS WENT FAR BEYOND THAT TO BE THE TOP BANANA.
CATTELAN HAS SAID HE CRAFTED HIS WORK AS SATIRICAL JAB AT MARKET SPECULATION.
“THE COMEDIAN” FIRST DEBUTED AT A MIAMI BEACH ART EVENT IN 20-19, WHERE THE PERROTIN GALLERY SOLD THREE EDITIONS FOR BETWEEN 120 THOUSAND DOLLAR AND 150 THOUSAND DOLLARS EACH.
BUT THE WORK PROVED “RIPE FOR THE TAKING” FOR ONE PERFORMANCE ARTIST, DAVID DATUNA, WHO RIPPED THE BANANA RIGHT OFF THE WALL AND ATE IT.
THE PIECE HAS EVEN CAUSED AN UPROAR IN THE CRYPTO WORLD – WHEN EARLIER THIS MONTH A SOTHESBY’S EXECUTIVE CREATED A MEMECOIN – THAT’S CRYPTO INSPIRED BY ONLINE TRENDS OR MEMES – BASED ON CATTELAN’S BANANA CALLED “BAN” – COMPETING WITH ANOTHER COMEDIAN-INSPIRED MEMECOIN MINTED IN AUGUST – THAT ONE’S CALLED B-T-W—SHORT FOR “BANANA TAPE WALL.”
SUN SAID HE WOULD PAY FOR THE WORK IN CRYPTO.
BUT WHAT DID THE TYCOON FIND SO “APPEALING” ABOUT THE DUCT-TAPED BANANA?
IN A STATEMENT SUN SAID THE WORK “REPRESENTS A CULTURAL PHENOMENON THAT BRIDGES THE WORLDS OF ART, MEMES, AND THE CRYPTOCURRENCY COMMUNITY.”
AS FOR WHAT HE’LL DO WITH IT – HE PLANS TO QUOTE “PERSONALLY EAT THE BANANA AS PART OF THIS UNIQUE ARTISTIC EXPERIENCE, HONORING ITS PLACE IN BOTH ART HISTORY AND POPULAR CULTURE.”
ART TRULY BEING IN THE EYE OF THE BEHOLDER. AND IN THIS CASE THE BEHOLDER OF A 6 POINT 2 MILLION DOLLAR BANANA.
FOR STRAIGHT ARROW NEWS, I’M CRAIG NIGRELLI.
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