Basquiat painting was bought for just $1. The owners of the Jean- Michel Basquiat artwork that sold for a record $1. New York this week had originally bought the painting for just $1. The 1. 98. 2 'Untitled' artwork, depicting a face in the shape of a skull, was sold at auction by Sotheby's in Manhattan on Thursday night. The piece, which was purchased by noted Japanese collector and entrepreneur Yusaku Maezawa after a 1. American artists. 'Untitled' was virtually unknown before it was unveiled at Sotheby's a few weeks ago. The 1. Jean- Michel Basquiat artwork, depicting a face in the shape of a skull, was sold at auction by Sotheby's in Manhattan on Thursday night for a record $1. It had remained in the private collection of renowned New York art collectors Jerry and Emily Spiegel since they bought it at auction in 1.

Bloomberg reports. When they purchased the 7. Basquiat was virtually unknown and hadn't been publicly exhibited. The couple died in 2. Pamela and Lise. The record- selling Basquiat reemerged in public view when the two daughters started auctioning off the artworks via Christie's and Sotheby's.

The Spiegel's had become internationally recognized as collectors of Post- War and Contemporary Art. Jerry Spiegel was one of Long Island's most enterprising real estate developers. The piece had remained in the private collection of renowned New York art collectors Jerry and Emily Spiegel (above) since they bought it at auction in 1. The couple died in 2.

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The couple's daughters were not available to comment on the recent Basquiat sale. Basquiat died of a drug overdose in 1. The previous auction record for a Basquiat work was set last May when 'Untitled, 1. That painting was also sold to Maezawa - the Japanese billionaire who purchased the most recent work this week.

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• · The recent Sotheby's auction of a Jean-Michel Basquiat Skull painting for over a hundred million dollars has catapulted this Brooklyn-born artist into the.
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Maezawa said he plans to eventually display his most recent Basquiat purchases in his museum in Chiba, Japan. 'When I saw this painting, I was struck with so much excitement and gratitude for my love of art,' Maezawa said. The piece's final price made it the sixth most expensive work ever sold at auction, and only the 1. The work was sold as part of Sotheby's Contemporary Art Evening auction. In total, $3. 19. The piece, which was purchased by noted Japanese collector and entrepreneur Yusaku Maezawa (above) after a 1.

American artists Basquiat died of a drug overdose in 1. Watch Karate Kill Online. The recent sale of his work set an auction record for American artists. A Sotheby's official is seen speaking speaking about the painting on May 5 - prior to its record- setting sale on Thursday night.