An astonishing piece of conceptual art, featuring a simple banana affixed to a wall with duct tape, was sold for an incredible $6.2 million at a New York auction on Wednesday. The winning bid came from a prominent cryptocurrency entrepreneur.
The artwork, titled Comedian, by Italian artist Maurizio Cattelan, first made waves in 2019 when it debuted at Art Basel Miami Beach. Attendees were left pondering whether the piece—consisting of a yellow banana taped to a white wall with silver tape—was a jest or a satirical critique of the art market's standards, as noted by the Associated Press.
During its debut, the piece generated so much buzz that another artist actually removed the banana from the wall and ate it. Due to the overwhelming attention, the artwork was temporarily withdrawn. However, that same year, three editions of Comedian were sold for prices ranging from $120,000 to $150,000, according to the gallery handling the sales.
The Auction's Dramatic Rise
Five years later, Justin Sun, the founder of the cryptocurrency platform TRON, paid over 40 times the previous value at a Sotheby’s auction. Sun not only acquired the artwork but also obtained a certificate of authenticity, granting him the right to tape a banana to a wall and call it Comedian.
The auction commenced with a starting bid of $800,000, rapidly escalating to astronomical figures—soaring from $2 million to $3 million, then $4 million, before reaching the final price of $5.2 million, excluding roughly $1 million in auction house fees.
A Cultural Phenomenon
Sun stated that the piece "represents a cultural phenomenon connecting the worlds of art, memes, and the cryptocurrency community." Additionally, he announced plans to eat the banana himself in the coming days as part of the artistic experience.
Sotheby's described Cattelan as "one of the most brilliant provocateurs in contemporary art," highlighting his skill in challenging the art world's status quo with irreverent and controversial works.
Art Market Milestones
This historic sale occurred just a day after a painting by René Magritte fetched $121.2 million at another auction, setting a record for the Belgian surrealist. With this figure, Magritte joined an elite group of artists whose works have surpassed $100 million at auction, including Leonardo da Vinci, Pablo Picasso, and Andy Warhol.
Back in 2019, the banana taped to the wall was first introduced at Art Basel Miami, where it was priced at $120,000, sparking intense debates about contemporary art and its value.