In the name of . . . art U2 to rock auction with €7.6m masterpiece
Jean-Michel Basquiat's 'Untitled (Pecho/Oreja)', which U2 bought at a New York gallery almost two decades ago, will be auctioned next month at Sotheby's, London. The piece is expected to fetch ?7.6m. The current auction record for a Basquiat stands at ?9.47m
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Friday June 13 2008
U2 are set to make up to £6m (€7.6m) for a piece of contemporary art they bought at a New York gallery almost two decades ago.
The work 'Untitled (Pecho/Oreja)' -- spotted by bassist Adam Clayton in 1989 -- is that of the late American artist Jean-Michel Basquiat. It is listed by Sotheby's in London as "property from the collection of U2". The painting -- due to go under the hammer on July 1 -- is described in the catalogue as "truly astounding as the sublime combination of imagistic cacophony and compositional economy".
It was painted in 1982, a year of unprecedented success for the fledgling artist.
In May 2007, Sotheby's established a world record at auction for Basquiat when it sold 'Untitled', a masterpiece dating from 1981, for $14.6m (€9.47m) in New York.
Since then, the company has offered further outstanding works by the artist, including 'Untitled (Electric Chair)', 1981-82, which sold for $11.8m (€7.65m) in November 2007, and 'Untitled (Prophet I)', from the same period, which fetched $9.5m (€6.16m) in May 2008.
Basquiat (1960-1988) is recognised as New York's first graffiti artist and became a successful Neo-expressionist.
- John Vincent
