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.
The significant price hike—a 122 percent increase over its last sale price—underscores the relentless demand for Basquiat’s top-tier works, which have seen a surge in value since 2020. As four of the artist's five highest auction prices have been set in the last four years, this sale serves as a key barometer for the high-end contemporary art market and confirms Basquiat's status as a blue-chip staple whose market remains robust despite broader economic shifts.