Cattelan's Banana Fetches $6.24M at Sotheby's, Paid in Cryptocurrency

Maurizio Cattelan's 'Comedian' (2019), a banana duct-taped to a wall, sold for $6.24 million at Sotheby's New York on November 20, 2024, far exceeding its $1-1.5 million estimate. The buyer, Justin Sun, founder of the TRON cryptocurrency platform, paid in cryptocurrency and announced he would eat the banana as part of the artistic experience. The sale marked the first time Sotheby's accepted crypto payments for a lot, reflecting a growing trend in art investments using digital currencies. Despite the high price, it did not break Cattelan's auction record, held by 'Him' (2001) at $17.2 million in 2016. The overall 'The Now and Contemporary Evening Auction' generated $112.3 million (hammer $96.4 million), down 64% from $305.7 million in 2023, with 40 lots versus 64 last year. Top lots included Ed Ruscha's 'Georges’ Flag' ($13.6M), a new record for Stuart Davis's 'Contranuities' ($12M), and Willem de Kooning's 'Untitled XXV' ($10.9M). Six works from Dorothy and Roy Lichtenstein's collection totaled $18.6M. Jeff Koons' 'Women in Tub' (1988) failed to sell, with bids reaching only $9.8M against a $10-15M estimate. Among younger artists, Pol Taburet set a record at $156,000, Jadé Fadojutimi's 'Taught Thought' sold for $780,000, and Louis Fratino's 'Anemones and Mimosas' fetched $312,000, double its high estimate.