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As New York's November auction season begins, the art market is bracing for a challenging environment amid economic shifts. With an estimated $1.5 billion in sales, auction houses are hoping for strong bidding despite a decline in high-value consignments and concerns over inflation and interest rates.
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Maurizio Cattelan's artwork 'Comedian,' featuring a banana duct-taped to a wall, sold for $6.2 million at Sotheby's New York auction. The piece, which debuted in 2019, has sparked debates about the nature of art and value, with the buyer planning to eat the banana as a tribute.
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At a Sotheby's auction on November 20, 2024, a banana duct-taped to a wall, titled 'Comedian' by Maurizio Cattelan, sold for $6.2 million. The buyer, crypto entrepreneur Justin Sun, plans to eat the banana as part of the artwork's experience. The sale significantly exceeded its pre-auction estimate of $1 million.