The art world went absolutely bananas last night – literally – when Maurizio Cattelan is scandalous Comedian (2019) sparked a feverish ten-minute bidding war at Sotheby’s “Evening sale now and contemporary.” Seven bidders went before the hammer finally fell at a hammer price of $5.2 million, or $6,240,000 with taxes. The winning bid came over the phone from a mystery buyer represented by Jen Hua, Sotheby’s vice president for Asia. At the stand was the auctioneer Sotheby’s Oliver Barkerwho couldn’t resist a perfectly timed zinger: “Only at Sotheby’s can you get your expensive banana. Don’t let him get away.” It was a quintessential Cattelan moment – ​​equal parts absurd and brilliant.

With this sale, the ever-challenging Italian artist has managed to score another performance art hit, gleefully poking fun at the system that made him rich. After all, Comedian—an ephemeral but conceptually sharp work of art consisting of a banana stuck to a wall— was already turning heads when it debuted at Art Basel in 2019, selling for $120,000. Three years and a full market cycle later, it achieved ultimate flexibility: skyrocketing to a million-dollar sale at a top auction house. Cattelan once described the piece as “an honest commentary and reflection on what we value,” and last night the market showed it values ​​this banana more than most fine art.

Shortly after the hammer fell, Justin SunTHE not uncontroversial founder of crypto platform Tron, confirmed on X that he was the buyer. Sun framed its purchase as more than just owning a viral artwork, ringing Comedian “a cultural phenomenon bridging the worlds of art, memes and the cryptocurrency community.”

Accordingly, Comedian it was the only lot in the sale that Sotheby’s opened up to cryptocurrency payments. Sun’s acquisition is an awkward fit for his brand, as the artwork itself—a banana that comes with a certificate of ownership and mounting instructions—mirrors the conceptual dynamic of NFTs: ephemeral, symbolic, and entirely based on the legal framework and linguistic of its property. . Sun even plans to take his role as a collector to a new level, promising to eat the banana as part of what he describes as a “one-of-a-kind artistic experience.”

“I believe this piece will inspire more thought and discussion in the future and become part of history,” he said in the same statement. “I am honored to be the proud owner of this iconic work and look forward to it causing further inspiration and impact for art enthusiasts around the world.”

in her own way Comedian it did more than provoke; highlights the tangled relationships between physical and digital assets and the conceptual and legal frameworks that underpin their value. Even Emmanuel Perrotinwhose gallery originally sold the work at Art Basel, responded with an Instagram post that read: “The result at Sotheby’s adds another chapter to his story, which is far from over! The banana will remain a powerful symbol.” One of the three editions sold by Perrotin in Miami now resides in the Guggenheim Museum, giving it an institutional afterlife that adds another layer to its already iconic status.

But the energy in the Sotheby’s saleroom last night wasn’t all bananas, it was amazing from start to finish, starting with a work by a Japanese artist. Yu Nishimura. Bidding opened modestly at $20,000, a figure in line with its main market prices just a year ago, but quickly reached a staggering hammer of $110,000 ($132,000 with tax) after a heated scramble between telephone bidders , online participants and in-room bidders. The work eventually went to Garrette Furo, a young crypto collector and entrepreneur from Brooklyn, who was placed in public. This result should not come as a shock – access to Nishimura has become almost impossible in recent months, with his galleries, Galerie Crèvecœur and HQ Sadie Coles, strategically positioning him in different regions. Adding to the momentum, ARCH, a private foundation in Athens, dedicated an entire show to the artist last summer in a building at the foot of the Acropolis.

Dynamic bidding continued through the first thirty lots until the evening hit its first stumble Gerhard Richterhis Berg. Estimated to reach $4 million, the piece fell short at $3.9 million and remained unsold. By then, however, the auction house had already achieved impressive results. A Louis Fratino the work jumped from an initial bid of $60,000 to $260,000 ($312,000 with tax) after vigorous telephone bidding from Europe. This was a solid return considering the consignor had purchased it at Ciccia Levi’s show in 2021. Shortly after, a Kai Althoff the 2008 painting—originally acquired from the Gladstone Gallery the same year it was created—sold within its estimate for $960,000, while a small Laura Owens the work smashed its presale estimate, doubling to sell for $720,000. Meanwhile, a surrealist painting by Pole Taboureta rising star and Pinault protégé, surpassed the opening bid of $70,000 to fetch $156,000, setting a record for the artist. Hilary Pecis also saw a work purchased from Rachel Uffner Gallery in 2021 sell for $504,000.

However, not all batches had the same spark. of Jadé Fadojutimi Thought taught (2021), a gestural abstraction in pink, sold within its estimate. While the sale was in line with expectations, it didn’t have the drama one might expect, especially given her sold-out debut show at the Gagosian, which could have added extra heat to her market. Similarly, Richard Princehis Assistant in the processa rare offering from his “Nurse” series also came within its estimate, selling for $6.7 million after a phone-to-camera bidding war. While “Nurse” works fetched stratospheric prices in the mid-2000s, reaching nearly $9 million, their market cooled significantly during the late 2008 recession, making last night’s result more in line with recent valuations.

Curiously, the lots after Cattelan Comedian— which could have been overshadowed by the viral moment — actually turned in a robust performance. A striking picture of Suzanne Jackson from 1974, debuting at auction after a year of institutional appreciation, including the Whitney Biennial, shattered expectations by more than doubling its high estimate to sell for $288,000. Miyoko Itoan “Allusive Abstractionist” from the 1980s in Chicago, fetched $495,000 for a work from his limited oeuvre, a strong result given the artist’s slow but steady ascent in the market, with a record $560,700 set last year. Myron Stoutknown for his minimalist black-and-white canvases, also shined with a fresh work at auction that fetched $900,000, comfortably beating its estimate of $300,000-$500,000.

Not all big names provided fireworks. Ed Ruscha’s film-inspired piece was underestimated at $3 million, although six works were shipped directly from Roy Lichtenstein Estate performed exceptionally well, with five exceeding estimates and raising a combined total of $18 million. Later, a more emblematic work Ruscha, Georges flag (1999), sparked an intense bidding war between telephone bidders and a man sitting in the front row, eventually selling for $13,650,000 – a hefty profit considering the previous sale at Christie’s in 2005 for 1,584,000 dollars. Christopher WoolHis 1992 signature text painting, part of a once-disintegrating market for “Zombie Formalists,” fared decently, reaching $2,420,000. Agnes Martinit’s delicate Untitled #12 (1999) also did respectably, selling just above its estimate at $3,120,000.

As the sale ended, the earlier fervor gave way to a palpable thrill. Jeff Koons‘ Woman in bathtub hit the block for complete quiet – both in-room and from phone and online bidders. An unsubstantiated bid on the chandelier managed to reach $9.8 million, but the work ultimately went unsold. Lately, Sotheby’s has recorded four additional unsold works, including pieces by him Cy TwomblyGerhard Richter and Jasper Johns, mentioned above, bringing the number of approved lots to five. Not bad for a sale of forty-six lots – especially considering three were withdrawn before the auction started. Other results in the second half were steady if unremarkable, with works such as Yayoi Kusama’s signature yellow pumpkin sculpture selling within the estimate range for $2,340,000.

By the end of the night, Sotheby’s had totaled $110.4 million. Although Cattelan’s banana didn’t contribute significantly to the final figure, it was undoubtedly the show of the night, eclipsing every other result with its sheer absurdity and cultural buzz. The strong overall sales performance suggests the market remains resilient, even if certain brand names failed to deliver fireworks. A day later, however, few seemed concerned about the state of the art market. Instead, most conversations revolved around ComedianIts captivating moment and its implications for art history. With auction week in full swing, all eyes now turn to Christie’s The auction of the 21st century tonight — the market’s last litmus test before the frenzy of Miami Art Week begins.