It’s official: at an auction in New York City, a plain banana that was fastened to a wall using duct tape and a little art world flair brought $6.2 million. Created by Italian artist Maurizio Cattelan, the piece “Comedian” has gained both cultural and commercial attention since its 2019 Art Basel Miami Beach debut. The Sotheby’s auction saw the climax of this duct-taped produce’s story, according to the Miami New Times, with bids that sent it from a million-dollar estimate to that highly-discussed multi-million dollar hammer price.
The artwork “Comedian” was acquired by Justin Sun, the creator of the cryptocurrency network TRON, for a record sum, underscoring the expanding relationship between high art and finance. Sun, who is well-known for making audacious investments in the cryptocurrency space, seems to have discovered the ideal fusion of art and meme culture. Sun waxed poetic over the piece in a statement given to CBS News New York, saying it “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.”
Those who are not familiar with the intricacies of modern art may be surprised by the terms of the sale: the buyer receives a certificate of authenticity and a set of instructions, which symbolize the concept itself, rather than the actual banana or duct tape. Sun also intends to eat the banana in its current form, as if to emphasize how fleeting everything is. “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,” he told CBS News New York.
Such sales are important in the art industry despite the skepticism and laughter. Despite being humorous, “Comedian”‘s $6.2 million price tag, including auction fees, says a lot about how comedy, art, and the market are all intertwined. “These are never words I’d thought I’d say, $5 million for a banana,” Sotheby’s auctioneer Oliver Barker jokingly said during the bidding war, according to the Miami New Times.
The day before the “Comedian” show, Ren Magritte’s “The Empire of Light” sold for a record-breaking $121.2 million at a more conventional art sale. Christie’s acknowledged during their historic moment that Magritte is now firmly among the top artists whose paintings command nine-figure prices due to this rush of high-stakes sales.
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