A rare, untitled 1981 Jean-Michel Basquiat painting, unseen for over three decades, will headline Sotheby’s Contemporary Evening Auction in New York this May, with an estimate of $10–15 million. The work, created when Basquiat was 20, captures his transition from street art to international fame and has been held in the same private collection since 1989. The auction also features pieces from Barbara Gladstone’s collection, the Roy Lichtenstein Foundation, and works by Lucio Fontana, Robert Rauschenberg, and Pablo Picasso.
The sale arrives amid a 12% decline in global art sales in 2023, making the painting’s pristine provenance and rarity a key test of market resilience. Sotheby’s chairman Grégoire Billault emphasized the need for exceptional offerings in a lower-volume market. The Basquiat’s emergence after 36 years underscores the enduring demand for blue-chip works and could signal renewed confidence in the high-end auction sector.