Phillips auction house is set to offer three paintings by Jean-Michel Basquiat during its spring sales in New York and Hong Kong. These works, created between 1981 and 1982, originate from the collection of anthropologist Francesco Pellizzi and were acquired from Basquiat’s initial dealer, Annina Nosei, in the early ’80s.
Headlining the New York sale on May 14 is the monumental 1982 piece “Untitled (ELMAR),” a nearly eight-foot-wide canvas. The artwork depicts a modern-day interpretation of Icarus on the brink of descent from the heavens, with an archer aiming two arrows in his direction. “Untitled (ELMAR)” is estimated to fetch between $40 million and $60 million.
“Untitled (ELMAR)” has enjoyed a notable exhibition history, being featured in various prestigious showcases over the years. It was included in an exhibition dedicated to Pellizzi’s collection at New York’s Hofstra Museum in 1989 and was also displayed at an exhibition commemorating the 10-year anniversary of Basquiat’s passing at Gagosian Los Angeles in 1998, where it graced the cover of the accompanying catalogue. Additionally, the artwork was part of Basquiat’s retrospective at the Fondation Louis Vuitton in Paris in 2018.
In addition to “Untitled (ELMAR),” Phillips will also auction off the 1981 canvas “Untitled (Portrait of a Famous Ballplayer)” in New York, with an estimated price range of $6.5 million to $8.5 million. Furthermore, in Hong Kong on May 31, the auction house will offer “Native Carrying Some Guns, Bibles, Amorites on Safari” (1982), expected to fetch between $12 million and $18 million.
Basquiat’s paintings have demonstrated strong demand in Asia, with notable sales in the region. In May 2022, a 1982 untitled painting from Japanese multimillionaire Yusaku Maezawa’s collection fetched $85 million, marking a significant increase from the $57.3 million he paid for it at Christie’s just six years prior.
