At $110.5 Million, Basquiat Painting Becomes Priciest Work Ever Sold By A U.S. Artist

    Jean-Michel Basquiat joined "joined the pantheon of great, great artists" Thursday night, when the late painter's 1982 work Untitled sold for a record-breaking $110.5 million at auction — the highest sum ever paid at auction for a U.S.-produced artwork. That breathless assessment was offered after the sale by Oliver Barker, chairman of Sotheby's Europe. So you can imagine just how thrilled the buyer must have been. "I am happy to announce that I just won this masterpiece," Japanese billionaire Yusaku Maezawa said in an Instagram post revealing his identity as the man who purchased the work. "When I first encountered this painting, I was struck with so much excitement and gratitude for my love of art. I want to share that experience with as many people as possible." The purchase price elicited gasps from many in the room as it sailed past expectations during the 10-minute bidding war at the Sotheby's auction, according to ARTNews magazine . In fact, the publication notes the paintingOriginal Article