Sotheby's has announced two major consignments for its November marquee auctions in New York: Jean-Michel Basquiat's "Crowns (Peso Neto)" (1981), estimated at $45 million, and an untitled Kerry James Marshall painting from 2008, estimated at $10–15 million. The Basquiat, painted on Christmas night 1981, debuted at Annina Nosei Gallery and Documenta 7, and was previously owned by collectors Thomas Worrell and José Mugrabi before being consigned by French actor Francis Lombrail. The Marshall, depicting a couple embracing at sunset, was purchased on the primary market and has remained in the same collection, recently appearing at the Church in Sag Harbor with lender Neda Young.
These works represent two contrasting market narratives: Basquiat's painting comes from a pivotal year in his meteoric rise and carries a blockbuster estimate, while Marshall's work is a rare auction appearance for an artist whose major pieces are mostly held in museums. The sales will test demand for top-tier contemporary art amid a cautious market, with Marshall's fresh-to-market piece offering a benchmark for his secondary market, and the Basquiat continuing the trend of high-value consignments from celebrity collectors.