Friday, December 6, 2019

This Is How Money Is Laundered

Ed.'s note: Was this done as satire or as a spoof? We've already posted several essays on how money laundering is done through art. Notice when you go to the Art Basel website the symbol of UBS Bank in the upper right of the website.

I Would Like to File a Suspicious Transactions Report on the entire 20th century
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Source: Hype Beast

Bananas Duct-Taped to Wall Selling for $120K USD at Art Basel

Two iterations of 'Comedian' have reportedly sold for six figures apiece.

By Mallory Chin | December 6, 2019


Art Basel Miami Beach has officially kicked off, with plentiful artworks, limited goods and product launches all rolling out in the Floridian metropolis. Perhaps the most unusual offering on display is a humble banana, duct-taped to a wall; amazingly, two editions of the produce have sold for $120,000 USD each.

The creative behind the work is 59-year-old Italian artist Maurizio Cattelan. Dubbed Comedian, the creation bears a cheeky resemblance to Andy Warhol's iconic 1967 pop art fruit.

A first edition for Comedian apparently came from a local Miami supermarket and sold to a French collector for $120,000 USD by Perrotin, an international art gallery, according to Artnet's site. A second edition sold to another French connoisseur for the same price, while a third edition of the work will reportedly sell for a staggering $150,000 USD.

Comedian is currently on display at the Galerie Perrotin booth at the Basel fair. Gallery owner Emmanuel Perrotin called the phenomenon a "miracle," adding "I don't know how this happened!" Perrotin went on to tell CNN the banana is "a double entendre, as well as a classic device for humor," explaining that they're vehicles of both “critique and delight."

This isn't the first time Cattelan has set the art world abuzz. In September, the artist made headlines after his 18-karat gold toilet — valued at $6 million USD — was swiped from Winston Churchhill's boyhood home.

For more conventional Art Basel fare, check out our guide to Art Basel Miami Beach 2019.

Please go to Hype Beast to read more.
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Related:

$100 Million for a Painting? Not This Auction Week

A Monumental Canvas by Yoshitomo Nara Sells for $25 Million in Hong Kong, Shattering the Artist’s Previous Auction Record

At Solid $325.3 M. Christie's Contemporary Art Sale in New York, Ed Ruscha Is King

What do the Art Basel banana and the Trump impeachment have in common?





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