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Artnet News examines the top five auction results for Jean-Michel Basquiat, whose meteoric rise and tragic death at age 27 fueled a legendary market. The list includes works such as "Versus Medici" (1982), which sold for $50.82 million at Sotheby's in 2021; "El Gran Espectaculo (The Nile)" (1983), which fetched $67.1 million at Christie's in 2023; and "Untitled" (1982), which reached $85 million at Phillips in 2022. The article highlights the artist's synthesis of graffiti and Renaissance aesthetics, his relationships with figures like Andy Warhol, and the explosive growth of his market over the past decade.

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Billionaire hedge fund manager and prominent art collector Kenneth C. Griffin has issued a stark warning regarding the global economy, stating that a recession is inevitable if the Strait of Hormuz remains closed through the end of the year. Speaking at the Semafor World Economy summit, Griffin highlighted that the closure of this vital oil passageway has created energy shocks and treacherous conditions for central bankers, potentially forcing further interest rate hikes to combat inflation.

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The article reports that the top tier of the art auction market rebounded strongly in 2025, with the ten most expensive lots totaling $757.1 million, a 48% increase from 2024. Gustav Klimt became the top-selling artist, driven by the sale of his *Portrait of Elisabeth Lederer* (1914–16) from the collection of the late Leonard Lauder, which was the most expensive artwork of the year. The rankings saw significant shifts: René Magritte, the top artist in 2024, fell to sixth place, while blue-chip names like Pablo Picasso, Andy Warhol, and Jean-Michel Basquiat strengthened their positions. Notably, no women or living artists appeared among the top 20 sellers in 2025, a reversal from the previous year when Yayoi Kusama and Joan Mitchell were present.

Gullah artist Sam Doyle’s narrative portraits shine at Outsider Art Fair in New York

A series of 20 paintings by self-taught Gullah artist Sam Doyle are a highlight of this year's Outsider Art Fair in New York. The works, priced from $35,000 to $85,000, are presented by The Gallery of Everything and come from the collection of publisher and Intuit Art Museum co-founder Bob Roth.

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Tony Shafrazi, the legendary and controversial New York art dealer, is returning to the art fair circuit for the first time since 2012 with a booth at the Independent 20th Century fair in New York. He is presenting works by Armenian sculptor Zadik Zadikian, whose installation of gold bricks Shafrazi first exhibited in Tehran in 1978 before they were lost in the Iranian Revolution, alongside paintings by Brandon Deener. Shafrazi, now in his 80s, closed his New York gallery in 2011 and was banned from Art Basel in 2012 for breaking the fair's rules.

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The chairman of Abu Dhabi's department of cultural tourism, Mohamed Khalifa Al Mubarak, revealed at a recent briefing that the Guggenheim Abu Dhabi, designed by Frank Gehry and set to open in 2026 on Saadiyat Island, will feature Western masters like Jean-Michel Basquiat, Jackson Pollock, Mark Rothko, and Andy Warhol alongside lesser-known contemporary artists from Asia, Africa, and the Arab world. The museum, originally announced two decades ago and delayed multiple times, will also incorporate augmented reality and artificial intelligence to enhance visitor engagement, and will include music, food, and dance as part of its civic space concept.

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Sotheby's has relocated its New York headquarters to Marcel Breuer's iconic Brutalist building on Madison Avenue, formerly home to the Whitney Museum, the Met Breuer, and a Frick Collection outpost. After a renovation by Herzog & de Meuron that restored original gallery proportions and upgraded infrastructure, the auction house is inaugurating the space with a series of exhibitions featuring three major single-owner collections—Leonard A. Lauder, Cindy and Jay Pritzker, and Exquisite Corpus—estimated at over a billion dollars. Highlights include Gustav Klimts from the Lauder trove, a Van Gogh still life from the Pritzker collection, a Frida Kahlo painting expected to set a record for a woman artist, and a Basquiat work in the contemporary evening sale.

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Sotheby's will auction Jean-Michel Basquiat's 1981 painting *Crowns (Peso Neto)* this fall in New York with a high estimate of $45 million, the highest estimate ever for a Basquiat work from that pivotal year. The painting, never before sold at auction, marks the artist's transition from street artist to international art star. Separately, Art Basel released the exhibitor list for its inaugural fair in Qatar, featuring 87 galleries including heavyweights like Hauser & Wirth, Gagosian, and David Zwirner, with a focus on solo presentations and artists from the Middle East, North Africa, and South Asia.

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Sotheby's will offer Jean-Michel Basquiat's 1981 painting *Crowns (Peso Neto)* in its fall contemporary evening sale in New York with a high estimate of $45 million, the highest estimate ever for a Basquiat work from that pivotal year. The painting, never before auctioned, is described by the house as marking the artist's transition from street artist to international art star. Separately, Art Basel has released the exhibitor list for its inaugural fair in Qatar, featuring 87 galleries including heavyweights like Hauser & Wirth, Gagosian, and Pace, with all booths dedicated to solo presentations curated by artistic director Wael Shawky.

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Dom Pérignon has partnered with artist Takashi Murakami to design limited-edition labels and packaging for its Vintage 2015 and Rosé Vintage 2010 releases. Murakami’s signature smiling floral motifs appear on black backgrounds, and the collaboration is framed as an exploration of time, transformation, and the intersection of historical craftsmanship with contemporary art. Murakami worked with Dom Pérignon’s Chef de Cave Vincent Chaperon, and the project is part of a broader series titled “Creation is an eternal journey,” which also involves actors, musicians, and chefs.

This Sam Doyle Painting May Mark a New Price Peak for the Self-Taught Artist

A solo presentation of self-taught artist Sam Doyle's work at the Outsider Art Fair in New York is generating significant attention, particularly a painting titled "Dr Bus Ha.Lo." being offered for sale for the first time at $85,000. The immersive booth, organized by London's Gallery of Everything, recreates the artist's front yard and showcases his vivid portraits of local Gullah community figures and Black cultural icons.

New US exhibition explores power of monuments – with help from Rocky

The Philadelphia Museum of Art has opened a new exhibition titled "Rising Up: Rocky and the Making of Monuments," which uses the iconic Rocky Balboa statue as a focal point to explore the power and meaning of monuments across two millennia of boxing and celebrity culture. Curated by Paul Farber, co-founder of Monument Lab, the show features ancient sculptures, 19th-century works, images from boxing's golden age, and contemporary pieces by artists including Andy Warhol, Keith Haring, Jean-Michel Basquiat, and Glenn Ligon. The Rocky statue, placed on the museum's steps in 1982, attracts an estimated 4 million visitors annually, rivaling the Statue of Liberty.

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Jean-Michel Basquiat’s monumental 1983 painting, 'Museum Security (Broadway Meltdown)', is set to headline Sotheby’s marquee contemporary evening auction this May with an estimate of $45 million. The seven-foot canvas was created during the artist's pivotal year in Los Angeles and features his signature blend of text and symbols, including wry commentaries on the institutionalization and commercial value of art. The work previously sold at Christie’s in 2013 for $14.5 million.

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A long-unseen 12-foot-wide painting by Martin Wong, titled *Tai Ping Tien Kuo (Tai Ping Kuo)* (1982), will be exhibited at Art Basel Miami Beach next month courtesy of New York gallery P.P.O.W. The work, which features a rare nude portrait of the artist’s mother and stepfather, was last shown publicly in 1987 at the Asian Arts Institute in New York. It was kept in storage for decades because Wong’s mother, Florence Wong Fie, objected to its display out of modesty. The painting adopts a classical three-panel altarpiece format, blending Chinese American history with references to Western art, the Taiping Rebellion, and Wong’s own Lower East Side influences.

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Sotheby's will offer Jean-Michel Basquiat's 1981 painting *Crowns (Peso Neto)* as the headline lot of its contemporary evening sale in New York this fall, carrying a high estimate of $45 million. The work, which has never been auctioned before, debuted at Basquiat's landmark 1982 solo show at Annina Nosei Gallery and later appeared at Documenta 7. It will be exhibited in London during Frieze Week, then in Paris coinciding with Art Basel Paris, before arriving at Sotheby's new Breuer Building headquarters in New York ahead of the November 8 sale.

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An early Jean-Michel Basquiat painting, *Crowns (Peso Neto)* (1981), sold for $48.3 million at Sotheby’s contemporary evening sale on Tuesday night, exceeding its pre-sale estimate of $35–45 million. The work, making its auction debut, was created when Basquiat was 21 and features his signature motifs of crowns, black faces, and cartographic lines. Bidding lasted five minutes, with Sotheby’s chairman for China Jen Hua winning on behalf of a phone client. The painting had been held in three private collections over four decades and was previously exhibited at Basquiat’s first solo show at Annina Nosei, documenta 7, the Whitney Museum, and the Fondation Louis Vuitton.

Our pick of the best museum and gallery shows to see in Chicago this spring

Chicago’s spring art season is highlighted by a series of significant institutional and gallery exhibitions, ranging from deeply personal solo debuts to expansive cultural surveys. Key highlights include Dabin Ahn’s first solo show at Document, featuring paintings that explore grief and impermanence following the death of his father, and a retrospective of the late Lucas Samaras at the Art Institute of Chicago. Additionally, the Museum of Contemporary Art Chicago is launching a major group exhibition titled "Dancing the Revolution," which examines the political and cultural impact of dancehall and reggaetón through the work of over 35 artists.

A major Jean-Michel Basquiat painting is expected to sell for more than $5 million in May.

A major Jean-Michel Basquiat painting is expected to sell for more than $5 million in May.

A major painting by Jean-Michel Basquiat, titled *Portrait of the Artist as a Young Derelict*, will be auctioned at Christie’s in New York this May. The 1982 work is a prime example of the artist's raw, graffiti-infused style and is expected to fetch over $5 million. This sale is part of Christie’s marquee spring auctions, highlighting continued strong market demand for blue-chip contemporary art.

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Sotheby's held a marathon double sale at its new Breuer Building location, selling Gustav Klimt's portrait of Elisabeth Lederer for $236.4 million—the second highest price ever paid for an artwork at auction. The evening featured works from the collection of the late cosmetics heir Leonard Lauder, totaling $527.5 million, far exceeding its low estimate. The subsequent "Contemporary and the Now" sale brought in $178.5 million, with a Jean-Michel Basquiat painting selling for $48.3 million. Overall, the night generated $706 million, with multiple auction records set for artists including Cecily Brown, Antonio Obá, Yu Nishimura, Jess, and Noah Davis.

Billionaire Collector Ken Griffin’s Basquiat Buying Spree Continues

Billionaire collector Ken Griffin has significantly expanded his holdings of Jean-Michel Basquiat, notably acquiring the 1983 masterpiece 'In Italian' from the collection of Peter Brant. The acquisition came to light through press materials for an upcoming exhibition at the Pérez Art Museum Miami (PAMM) titled "Basquiat: Figures, Signs, Symbols," which will showcase nearly a dozen works from Griffin’s private collection. The show, curated by PAMM director Franklin Sirmans and Griffin’s curator Megan Kincaid, includes other high-profile acquisitions such as the 1982 'Untitled (Skull)' previously purchased from Yusaku Maezawa.

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The US Marshals Service is auctioning four artworks by Pablo Picasso, Jean-Michel Basquiat, and Diane Arbus that were surrendered to the US Department of Justice in connection with the 1Malaysia Development Berhad (1MDB) scandal. The online-only auction, run by Gaston and Sheehan auction house in Texas, began on July 16 and closes on September 4, with no buyer's premium. The works include Basquiat's *Self Portrait* (1982) and *Red Man One* (1982), Picasso's *Tête de taureau et broc* (1939), and Arbus's *Child with a Toy Hand Grenade* (1962). The pieces were linked to fugitive financier Jho Low and actor Leonardo DiCaprio, who surrendered them after they were located in Switzerland.

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London's Stephen Friedman Gallery is facing serious financial difficulties, with its 2024 financial reports overdue and its 2023 accounts revealing a loss of £1.7 million. The gallery, which recently expanded with a large new London space and a New York outpost, is reliant on external financing and negotiations with creditors to continue operating, casting significant doubt on its future viability.

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Gustav Klimt's portrait of Elisabeth Lederer topped the list of the most expensive artworks sold at auction in 2025, achieving $236.3 million at Sotheby's New York on November 18—far exceeding its $150 million estimate and setting a new record for the artist. The painting came from the collection of the late Leonard Lauder, who died in June at age 92. Other top lots included two more Klimts from Lauder's collection, a newly offered Basquiat, and a record-setting Frida Kahlo work, alongside notable sales by van Gogh, Rothko, Mondrian, Monet, and Picasso, with many of the highest prices achieved during the blockbuster November auctions at Sotheby's and Christie's.

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Artnet News analyzed the 10 most expensive lots sold at auction in 2024, drawing on the Artnet Price Database. The top lot was René Magritte's *L'Empire de Lumières* (1954), which sold for $121.2 million at Christie's New York in November, setting a new auction record for the artist and becoming the only work to break nine figures this year. Other notable sales included Ed Ruscha's *Standard Station, Ten-Cent Western Being Torn in Half* (1964) at $68.3 million, Claude Monet's *Nymphéas* (1914–17) at $65.5 million, and Jean-Michel Basquiat's *Untitled (ELMAR)* (1982) at $46.4 million. Seven of the top 10 lots sold in New York, with Hong Kong, London, and Vienna also represented.

Six artists having a museum moment: Basquiat, Hockney, Bove, Brown, Wylie and Goldin

Six blue-chip artists are currently experiencing a significant wave of institutional recognition through major museum exhibitions across the globe. Cecily Brown is preparing for a homecoming solo show at London’s Serpentine South, while Jean-Michel Basquiat is the subject of a focused study on his works on paper at Denmark’s Louisiana Museum of Modern Art. Other featured artists include David Hockney, who recently opened a massive 400-work retrospective at the Fondation Louis Vuitton, alongside Carol Bove, Rose Wylie, and Nan Goldin.

Slim Phillips London Sale Totals $13.9 Million, Off 32 Percent From 2024

Phillips London's evening sale of Modern and contemporary art on Thursday totaled £10.3 million ($13.9 million), a 32 percent drop from the equivalent sale in 2024. The 45-minute auction saw 4 of 26 lots withdrawn before bidding, and 4 of the remaining 22 failed to sell, including works by Banksy, Andreas Gursky, Sigmar Polke, and Andy Warhol. The top lot was Jean-Michel Basquiat's *Untitled (Pestus)* (1982), which sold for £2.37 million ($3.19 million), just below its estimate. A new auction record was set for Emma McIntyre, whose painting *Seven types of ambiguity* (2021) more than doubled its high estimate to fetch £167,700 ($225,355).

A brush with… Christopher Wool—podcast

This episode of "A brush with…" podcast features an in-depth conversation with artist Christopher Wool, who discusses his career spanning painting, photography, and sculpture. Wool reflects on early influences including the Art Ensemble of Chicago, Dan Flavin, Jean-Michel Basquiat, Dieter Roth, and Toni Morrison's novel *The Bluest Eye*, which inspired one of his text paintings. He also explains the title of his recent exhibition "See Stop Run" and how jazz has consistently inspired his work. The podcast is sponsored by Bloomberg Connects, which highlights museums that have shown Wool's work, including the Guggenheim, MoCA Los Angeles, and SFMOMA.

A brush with… Christopher Wool—podcast

Christopher Wool is the subject of the latest episode of 'A brush with…' podcast, where he discusses his career spanning painting, photography, and sculpture. Born in Chicago in 1955 and working between New York and Marfa, Texas, Wool emerged in the late 1970s when painting's validity was questioned amid the rise of conceptual and photographic art. He reflects on influences including the Art Ensemble of Chicago, Dan Flavin, Jean-Michel Basquiat, Dieter Roth, and Toni Morrison's 'The Bluest Eye', which inspired one of his text paintings. The episode also covers his recent show 'See Stop Run' in New York and Marfa, and his current exhibition at Gagosian in London.

Record-Breaking $110.5 M. Basquiat Painting, Now Owned by Ken Griffin, to Go on View in Miami This Summer

The Pérez Art Museum Miami will present "Basquiat: Figures, Signs, Symbols," an exhibition of approximately ten works by Jean-Michel Basquiat from the collection of billionaire Kenneth C. Griffin. Opening June 25, the show includes the record-breaking 1982 painting "Untitled," which sold for $110.5 million in 2017 and was later acquired by Griffin, alongside other major paintings and a sculpture.

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Phillips has announced the lineup for its October London sales during Frieze Week, headlined by Jean-Michel Basquiat's 1982 work on paper, *Untitled (Pestus)*, estimated at £3 million ($4 million). The 26-lot evening auction on October 16 also includes Andy Warhol's diamond dust portrait of Giorgio Armani (estimate £800,000), Banksy's *Kate Moss* (estimate £1 million), and works by Jadé Fadojutimi, Flora Yukhnovich, Damien Hirst, Anish Kapoor, Sasha Gordon, and Emma McIntyre. A day sale on October 18 features pieces by Keith Haring, Warhol, Basquiat, Anselm Kiefer, and Yoshitomo Nara.