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Art & Design|Who’s Laughing Now? Banana-as-Art Sells for $6.2 Million at Sotheby’s
https://www.nytimes.com/2024/11/20/arts/design/cattelan-banana-sothebys-auction.html
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A conceptual artwork by Maurizio Cattelan, “Comedian,” is just a fruit-stand banana taped on the wall. But 7 bidders were biting. It went to a crypto entrepreneur.
Nov. 20, 2024Updated 8:15 p.m. ET
A banana that for years has stirred controversy in the art world sold for $6.2 million with fees at Sotheby’s contemporary art auction on Wednesday night. It became what is arguably the most expensive fruit in the world — though it will likely be tossed in a couple days.
The banana is the star of a 2019 conceptual artwork, “Comedian,” by the noted prankster Maurizio Cattelan, which is intended to be duct-taped onto the wall. It comes with a certificate of authenticity and installation instructions for owners to replace the banana — if they wish — whenever it rots. Five minutes of rapid bidding ended when the Chinese-born crypto entrepreneur Justin Sun placed the winning bid, besting six other rivals, which experts said was a sign that even a struggling market would spend big on spectacle.
“Returns in the market have been flat or decreasing over the last decade,” said Michael Moses, who tracks the investment potential of artworks for clients. “It’s a fascinating asset because you can get so much joy from it that people are willing to accept lower returns. Joy is not something to be messed with.”
Indeed, Sun said in a statement that the work “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.” He added that “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.”
The Cattelan artwork first appeared at Art Basel Miami Beach, where Perrotin Gallery sold three editions of “Comedian” for $120,000 to $150,000 each. But the crowds proved so disruptive that the gallery eventually took the banana out of the booth after a performance artist, David Datuna, ripped it off the wall and ate it. At Sotheby’s, the banana returned with an estimate between $1 million and $1.5 million, but the final price with fees sextupled its low estimate.
The work became a media sensation, appearing on the cover of The New York Post. Some critics were more generous than the tabloids. Writing in The New York Times, Jason Farago explained that the title “Comedian” is ironic — “for Mr. Cattelan, like all the best clowns, is a tragedian who makes our certainties as slippery as a banana peel.”
