A banana duct-taped to a wall has been bought for $6.2m at auction by a crypto mogul who has promised to eat his wildly expensive new purchase.
The art auction took place Wednesday night at Sotheby’s New York, with the mogul, Justin Sun, pledging to “personally eat the banana.”
The viral artwork initially garnered attention in 2019 at Art Basel Miami. Italian artist Maurizio Cattelan, 64, is the man behind the piece, called Comedian.
It was displayed at the Miami Art Festival, where one artist took a bite of the banana and one visitor vandalized the artwork.
Comedian is a banana duct-taped to a wall precisely 160 centimeters above the floor and previous editions sold for $120,000 and $150,000 in 2019, The Daily Beast noted.
Meanwhile, Sotheby’s estimated the most recent edition to be worth between $1m and $1.5m. But as bidding got underway on Wednesday night, the price soon shot up to more than $5m.
Speaking to an auction house staffer, auctioneer Oliver Barker, said: “These are words I never thought I’d say. Five million for a banana. It’s your expensive banana, Jen.”
“Don’t let it slip away,” he added jokingly.
The price eventually ended up at more than $6.2m, with Sun soon identifying himself as the winner.
“I’m thrilled to announce that I’ve bought the banana!” he wrote Wednesday night on X. “I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million.”
“This is not just an artwork; it represents a cultural phenomenon that bridges 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 winning bid was placed by Jen Hua from Sotheby’s China office on behalf of Sun, who will receive a certificate of authenticity as well as instructions detailing how to install the artwork and how to replace the banana, according to The Guardian.
“I am honored to be the proud owner of the banana and look forward to it sparking further inspiration and impact for art enthusiasts around the world,” Sun said. “Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture. Stay tuned!”
Cattelan’s previous work includes a solid gold toilet called America. The artist has said that Comedian “was a sincere commentary and a reflection on what we value.”
“At art fairs, speed and business reign, so I saw it like this: if I had to be at a fair, I could sell a banana like others sell their paintings. I could play within the system, but with my rules,” he told The Art Newspaper.