Two days ago, Brett Gorvy told Bloomberg he'd sold a Basquiat boxer from Christie's private selling exhibition in Hong Kong several weeks ago to an American buyer who saw the work on his Instagram feed and leapt at the opportunity to pay $24m sight unseen.
The story has provoked a number of skeptical market professionals to try to piece together what they know of the sale. Before we get to that reconstruction below for AMMpro subscribers (the first month is free), Gorvy has taken to Instagram this morning to discuss his person role in the Basquiat market:
It is incredible for me to think that I have been personally involved in the sale of all top ten works by Jean-Michel Basquiat ever sold, culminating in the record in May for $57.3 million. I can't say that for any other artist. But credit where credit's due.
What's clear from the Lars Ulrich story is that patience pays. Ulrich's holdings were indeed extraordinary. But he sold far too soon.
Going back to the boxer shown in Hong Kong reportedly consigned by Laurence Graff, when the work was in Hong Kong it was shown on "reserve."
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