Phillips Auctioneers will offer three paintings by the famed American neo-expressionist Jean-Michel Basquiat across its evening sales in New York and Hong Kong this upcoming May, all of which are estimated to collectively sell, at the higher end, for more than $86 million.
The works are dated from 1981 to 1982 and were acquired from the collection of the anthropologist Francesco Pellizi, who first bought the pieces in the initial half of the 1980s from Basquiat's first dealer, Annina Nosei.
(Photo : Phillips Auctioneers)
About the Basquiat Lots at Phillips
Headlining the New York Phillips auction, which will be held on May 14, is Basquiat's widely acclaimed 1982 piece, "Untitled (ELMAR)."
Laterally, it spans across eight feet and features a modern-day depiction of Icarus in the midst of falling out of heaven while an archer hurls two missiles his way. Phillips estimates this particular painting to fetch between $40 million and $60 million.
According to a press release by the auction house, "Untitled (ELMAR)" is "a cornerstone of Basquiat's golden year," as he went from an artist struggling to sell on the streets to an international gallery success.
It has even been showcased as part of a commemoratory event held for the 10th anniversary of Basquiat's death at Gagosian Los Angeles in 1998, alongside being featured on the cover page of the event's accompanying catalog.
Recently, the piece was part of the artist's retrospective exhibition at the Fondation Louis Vuitton Art Museum in Paris last 2018.
Joining "Untitled (ELMAR)" in the upcoming Phillips sale in New York is Basquiat's 1981 painting: "Untitled (Portrait of a Famous Ballplayer). This piece comes with a prospective price tag of around $6.5 million to $8.5 million.
Two weeks later from that particular auction, on May 31, a Hong Kong Phillips sale will take place and will offer the artist's "Native Carrying Some Guns, Bibles, Amorites on Safari (1982)" for an estimated $12 million to $18 million.
For more information, check out the auction house's web listing of the three lots by clicking here.
