A controversial banana artwork by Italian conceptual artist Maurizio Cattelan fetched an astonishing $6.2 million at a Sotheby’s auction in New York, with cryptocurrency entrepreneur Justin Sun emerging as the buyer.
According to the AFP, the piece, titled Comedian, gained notoriety after its debut at Art Basel Miami Beach in 2019, where it sparked debates about the definition of art.
“This is not just an artwork. It represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community,” Sun stated in Sotheby’s announcement.
The installation, which consists of a banana affixed to a wall with silver duct tape, was initially priced at $120,000 during its first sale five years ago.
Sun, the founder of cryptocurrency platform Tron, called the artwork an investment in both history and conversation, revealing that he plans to eat the banana as part of the experience.
“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,” Sun added.
The sale exceeded expectations, with seven bidders pushing the price well above Sotheby’s pre-auction estimate of $1–1.5 million. Given the ephemeral nature of a banana, Sun primarily acquired a certificate of authenticity and detailed instructions for replacing the fruit when necessary.
This iteration of Comedian is the third to go on sale. The first became famous when performance artist David Datuna ate it at the Miami show, calling it a “performance art piece” of his own, as he felt “hungry” during the exhibit.
Cattelan, known for his humorous and provocative works, described the banana as a critique of the speculative art market. He has previously criticised the industry for prioritising financial gains over artists’ well-being.
Among his other notable works is America, a fully functional 18-carat gold toilet, and The Ninth Hour, a sculpture of Pope John Paul II struck by a meteor.
Sun, who has faced allegations of market manipulation and unregistered crypto sales, is no stranger to the art world.
In 2021, he acquired Alberto Giacometti’s Le Nez for $78.4 million, signaling the rise of younger, tech-savvy collectors in the market.
Art market analysts have noted fluctuating trends due to geopolitical instability and rising interest rates, but the record-breaking sale of René Magritte’s Empire of Light for over $121 million at Christie’s earlier this week suggests continued enthusiasm for exceptional pieces.
For Comedian, the banana itself may only cost a few cents, but its message about the art world’s excesses continues to resonate. “The market has gone bananas,” a sentiment echoed since the artwork’s 2019 debut, remains as relevant as ever.
