Billionaire Who Dropped $98M on Art in Two Days Explains Why

OBSERVER |  Alanna Martinez:

Last week, Japanese fashion mogul Yusaku Maezawa spent an obscene amount of cash—$98 million to be precise—on contemporary art between two sales at Christie’s and Sotheby’s on May 10 and 11. At Christie’s on Tuesday evening, he bought an untitled 1982 painting by Jean-Michel Basquiat for a world record price of $57.3 million (as we previously reported), and also snapped up works by Richard Prince for $9.6 million, Jeff Koons ($6.8 million), Alexander Calder ($5.7 million) and Bruce Nauman ($1.7 million). Then he went on to spend even more millions at Sotheby’s on Wednesday night, buying works by Adrian Ghenie ($2.6 million) and Christopher Wool ($13.9 million)… Read more

Image: Yusaku Maezawa was revealed to be the buyer of Basquiat’s $57.3 million untitled painting, as well as the winning bidder of four other top lots on May 10. (Photo: ©Yusaku Maezawa)