Justin Sun Buys Cattelan's Banana Artwork for $6.2M, Plans to Eat It

Nov 21, 2024, 06:47 AM

Maurizio Cattelan's artwork 'Comedian', a banana duct-taped to a wall, sold for $6.2 million at Sotheby's auction in New York on Wednesday after over six minutes of bidding. The buyer, Justin Sun, a Chinese-born cryptocurrency entrepreneur and founder of the Tron platform, outbid six other contenders to acquire the piece. Initially estimated to sell for $1 million to $1.5 million, the artwork surpassed expectations. Sun described the work as 'a cultural phenomenon bridging the worlds of art, memes, and the cryptocurrency community.' 'Comedian', which debuted at the Art Basel Miami Beach fair in 2019, comes with a certificate of authenticity and instructions for replacing the banana when it decays. Sun stated that he plans to eat the banana in the coming days as part of experiencing the artwork. The sale has reignited discussions about the definition of art and its value in the contemporary market.