According to a statement from Sotheby’s, a cryptocurrency entrepreneur paid $6.2 million on Wednesday for a fresh banana taped to a wall, a controversial piece of conceptual art by Italian artist Maurizio Cattelan, at a New York auction.
When the edible creation “Comedian” made its premiere at the 2019 Art Basel show in Miami Beach, it caused controversy and prompted debate about whether it qualified as art, which was Cattelan’s declared goal.
The fruit and its single strip of silver duct tape, which sold for $120,000 five years ago, cost Chinese-born cryptocurrency pioneer Justin Sun more than $6 million on Wednesday.
“This is not just an artwork. It represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community,” Sun was quoted as saying in the Sotheby’s statement.
“I believe this piece will inspire more thought and discussion in the future and will become a part of history.”
With seven possible purchasers, the sale exceeded all expectations; prior to the bidding, the auction house set a guiding price of $1–1.5 million.
Given a banana’s shelf life, Sun is effectively purchasing a certificate of authenticity attesting to Cattelan’s creation of the piece along with guidelines on how to swap out the fruit when it spoils.
The third incarnation of the installation went up for sale Wednesday; performance artist David Datuna claimed to have been “hungry” after viewing the first one at the Miami event.
Sun, the founder of Tron, a cryptocurrency exchange, stated that he planned to devour his investment as well.
“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,” he said.
As well as his banana work, Cattelan is also known for producing an 18-carat, fully functioning gold toilet called “America” that he once offered on loan to Donald Trump during his first term in the White House.
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