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Ever since Yusaku Maezawa reset the Basquiat market twice with the purchases of Untitled (Devil) for $48.8m and then the Untitled (Head) for $110m there has been a breathless anticipation of a an explosion in the broader Basquiat market. Every auction and art fair is scrutinized for evidence of the Basquiat boom trickling down from the top.
So far, the market is still waiting. Too be sure, there have been some very good sales at auction to support the idea. Ten different works were sold at auction at prices ranging from $2.4m to $10.9m, though they were often hammered down to third-party guarantors or bids at or below the low estimate. This week, we got a few more clues as to what's going on in the Basquiat market.
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