Banana taped to a wall sells for $6.2 mln

NEW YORK

A fresh banana taped to a wall, a provocative work of conceptual art by Italian artist Maurizio Cattelan, was bought for $6.2 million on Nov. 20 by a cryptocurrency entrepreneur at a New York auction, Sotheby's announced in a statement.

The debut of the edible creation entitled "Comedian" at the Art Basel show in Miami Beach in 2019 sparked controversy and raised questions about whether it should be considered art, Cattelan's stated aim.

Chinese-born crypto founder Justin Sun forked over more than 6 million for the fruit and its single strip of silver duct tape, which went on sale for 120,000 dollars five years ago.

"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."

The sale featured seven potential buyers and smashed expectations, with the auction house issuing a guide price of $1-1.5 million before the bidding.

Given the shelf life of a banana, Sun is essentially buying a certificate of authenticity that the work was created by Cattelan as well as instructions about how to replace the fruit when it goes bad.

The installation auctioned on Nov. 20 was the third iteration with the first one eaten by performance artist David Datuna, who said he felt "hungry" while inspecting it at the Miami show.

Sun, who founded cryptomoney exchange Tron, said that he intended to eat his investment too.

"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 was offered to Donald Trump during his first term in the White House.

He has explained the banana work as a critical commentary on the art market, which he has criticized in the past for being speculative and failing to help artists.

The banana sold on Nov. 20 was bought for 35 cents from a Bangladeshi fruit seller on the Upper East Side of Manhattan, according to The New York Times.