{"id":608,"date":"2021-04-28T08:42:23","date_gmt":"2021-04-28T00:42:23","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=608"},"modified":"2021-04-27T13:48:49","modified_gmt":"2021-04-27T05:48:49","slug":"valentino-cofounder-to-sell-50-m-basquiat-at-christies","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/valentino-cofounder-to-sell-50-m-basquiat-at-christies\/","title":{"rendered":"Valentino Cofounder to Sell $50 M. Basquiat at Christie\u2019s"},"content":{"rendered":"<p>Christie\u2019s has unveiled a 1983 painting by\u00a0<a id=\"auto-tag_jean-michel-basquiat\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/\" data-tag=\"jean-michel-basquiat\">Jean-Michel Basquiat<\/a>\u00a0that the house will offer for sale in its New York contemporary art evening sale on May 11. Titled\u00a0<em>In any case\u00a0<\/em>(1983), the painting is expected to fetch a price of $50 million and is being sold by Italian collector Giancarlo Giammetti, the cofounder of fashion label Valentino.<\/p>\n<p>If the work reaches its low estimate, it will be among the\u00a0<a href=\"https:\/\/www.atelierauction.com\/globalupdates\/\" target=\"_blank\" rel=\"noopener\">most expensive works by the artist<\/a>\u00a0ever sold at auction. The painting will go on view at Christie\u2019s outpost in Hong Kong on April 28 and then travel to New York ahead of its sale.<\/p>\n<p>Measuring at more than 6-by-6-feet, the painting is one of three from a series of large-scale skull works that Basquiat completed in 1983. The piece bears reference to the 1983 police killing of Michael Stewart, a young Black street artist in New York. (Similar works formed the basis of a 2019 Guggenheim Museum survey curated by Cha\u00e9dria LaBouvier.) It comprises some of the artist\u2019s signature motifs prized among collectors\u2014a skeletal head bearing a wide grin and scrawled signs in the background.<\/p>\n<div class=\"page\" title=\"Page 3\">\n<div class=\"page\" title=\"Page 3\">\u201c<em>In This Case<\/em>\u00a0will be immediately recognizable to anyone familiar with Basquiat\u2019s trilogy of large-scale skull paintings from 1981\u201383,\u201d Ana Maria Celis, head of Christie\u2019s 20th century art department, said in a statement. \u201cAs his final expression in the series it is the most raw and visceral and emotionally-charged of the three paintings, with Basquiat holding nothing back.\u201d<\/div>\n<\/div>\n<p>For 14 years, the work has remained in the hands of Giammetti, who purchased it in 2007 from Gagosian. Most recently, Giammetti loaned the piece to the major 2017 exhibition around Basquiat at the Fondation Louis Vuitton in Paris. Prior to that, it sold at Sotheby\u2019s in November 2002 for just $999,500. Almost two decades later, Christie\u2019s current estimate represents a staggering value increase of 4,902 percent.<\/p>\n<p>The announcement follows\u00a0<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\" target=\"_blank\" rel=\"noopener\">Christie\u2019s sale of Basquiat\u2019s 1982 painting\u00a0<em>Warrior<\/em><\/a>, from the collection of Aby Rosen, for $41.9 million this past March in Hong Kong. That work is now among the top ten works by Basquiat ever sold at auction.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source\uff1ahttps:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Christie\u2019s has unveiled a 1983 painting by\u00a0Jean-Michel Basquiat\u00a0that the house will offer for sale in its New York contemporary art evening sale on May 11. Titled\u00a0In any case\u00a0(1983), the painting is expected to fetch a price of $50 million and is being sold by Italian collector Giancarlo Giammetti, the cofounder of fashion label Valentino. If [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,3],"tags":[143],"class_list":{"0":"post-608","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-latest-news","10":"tag-jean-michel-basquiat"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Valentino Cofounder to Sell $50 M. 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