Jean-Michel Basquiat’s powerful 1982 painting of a skull brought $110.5 million at Sotheby’s yesterday, to become the sixth most expensive work ever sold at auction. There were gasps in the crowd when the auction ended. According to various reports, only 10 other works have broken the $100 million mark.
The painting, “Untitled," was forged from oil stick and spray paint and had been expected to sell for $60 million. The New York Times reported at least four bidders on the phones and in the room went way beyond that price tag.