Sotheby's Auction: A conceptual artwork featuring a banana duct-taped to a wall fetched an astonishing $6.2 million at a New York auction on Wednesday, with the highest bid coming from a well-known cryptocurrency entrepreneur. Titled 'Comedian' and created by Italian artist Maurizio Cattelan, the piece first captured global attention during its debut at Art Basel Miami Beach in 2019. Visitors were left debating whether the lone yellow banana, secured to a white wall with silver duct tape, was a clever satire or a playful critique of the art world's often dubious standards. In a memorable moment, another artist removed the banana and ate it.
The artwork generated so much buzz that it was eventually taken down from display. However, three editions of the piece were sold during that period for prices ranging between $120,000 and $150,000, an AP report said, quoting the gallery managing the sales.
Five years on, cryptocurrency platform TRON's founder Justin Sun bought the piece from the Sotheby's auction, paying more than 40 times that price.
Sun has in fact paid the price for a certificate of authenticity, which allows him to duct-tape a banana similarly to a wall, and call it "Comedian", the AP report said.
'Don't Let It Slip Away'
In the description of "Comedian" on its website, Sotheby's mentioned that the artwork "banana and duct tape" available in 20/2/5 cm would come with a certificate of authenticity signed by the artist, Maurizio Cattelan.
The auction house calls Cattelan one of the "most brilliant provocateurs" among contemporary artists.
"He has persistently disrupted the art world's status quo in meaningful, irreverent, and often controversial ways," Sotheby's said in the description.
The artwork drew significant attention during the bustling Sotheby’s auction, with attendees in the packed room eagerly snapping photos as two white-gloved handlers flanked the banana, AP reported.
While the bidding opened at $800,000, it quickly escalated, climbing to $2 million, then $3 million, $4 million, and beyond within minutes. "Don’t let it slip away," auctioneer Oliver Barker was quoted as saying to keep the mood light, before adding with a grin: "These are words I never thought I’d say: Five million dollars for a banana."
The final hammer price landed at $5.2 million, excluding approximately $1 million in auction fees, bringing the total cost for the buyer to $6.2 million, which translates to Rs 52.5 crore in Indian currency according to the current rates.
According to an AFP report, Sun outbid six competitors to secure the duct-taped banana.
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'I Will Eat The Banana'
Sun has, meanwhile, said he intends to "personally eat the banana".
In a statement, as reported by AP, Sun said the piece "represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community".
However, he added: "Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture."
Of course, the banana Sun purchased isn’t the same one from five years ago. The artwork is replenished with a fresh piece of fruit for every display, and this auction featured its third iteration.
The original banana famously met an unusual end when performance artist David Datuna ate it during the Miami exhibition, explaining that he was simply "hungry."