Jean-Michel Basquiat, Odours of Punt, 2024
Main reasons to invest
Return Potential📈: An investment of 500 EUR is projected to be worth approximately 1,068 EUR in 4 years.
Cost-to-Return Ratio⚖️: With just 3.3% annual total costs (including exit fees), your net profit could be an impressive 20.9% per year.
Market Potential🔥: Demand for the work of Jean Michel Basquiat continues to grow, in May 2024 alone nearly $125 million of his art sold at auction, putting the late artist on pace to sell more than $200 million at auction this year. Over the past four years works by Basquiat have racked up over a billion dollars in auction sales, representing a rise of about 21% over the previous 4 years.
Description
"I don’t think about art when I’m working, I try to think about life." - Jean-Michel Basquiat
Who is Jean-Michel Basquiat?
The dramatic life of Jean-Michel Basquiat and his iconic paintings, featuring obsessive scribbles, enigmatic symbols and diagrams, and an iconography including skulls, masks, and the artist's signature crown, make him one of the most famous artists of the 20th century. He found a mentor and friend in Andy Warhol, who helped the young artist navigate the New York art world of the 1980s.
Drawings
Basquiat's art focused on dichotomies such as wealth versus poverty, integration versus segregation, and inner versus outer experience. He appropriated poetry, drawing, and painting, combining text and image, abstraction, figuration, and historical information mixed with contemporary critique. He drew on his Caribbean heritage, with direct references to racism, slavery, the people and street scene of 1980s New York, historical Black figures, famous musicians, and athletes, as evidenced by his notebooks and many important drawings. The immediacy and intellectual depth of his paintings earned him wide recognition both before and after his untimely death at the age of 27. After Basquiat's death, his estate was controlled by his father Gérard Basquiat, who also oversaw the committee that authenticated the artworks, operating from 1994 to 2012 to review over 2,000 works, most of which were drawings.
Rise to Success
He was an American artist who achieved success during the 1980s as part of the neo-expressionist movement. Basquiat first gained notoriety in the late 1970s as part of the graffiti duo SAMO. In the early 1980s, his paintings were exhibited in galleries and museums worldwide. At 21, Basquiat became the youngest artist to participate in Documenta in Kassel, Germany. At 22, he became one of the youngest artists to exhibit at the Whitney Biennial in New York.
Why Basquiat Prints?
Since his death at the age of 27 in 1988, the value of Basquiat's work has steadily increased. In 2017, "Untitled," a 1982 painting depicting a black skull with red and yellow streams, sold for a record $110.5 million, becoming one of the most expensive paintings ever purchased. The global interest in Basquiat continues to rise, and auction results consistently exceed estimates. For example, a print of "Hollywood Africans" measuring 96.5 x 214.8 cm sold for £168,750, compared to an estimate of £30,000-50,000. Another highlight is "Portfolio I," consisting of four prints measuring 101 x 101 cm each, which sold for $604,800 against an estimate of $300,000-500,000, averaging $150,000 per print.
Collections:
Andy Warhol Museum, Pittsburgh, PA.
Brant Foundation Art Study Center, Greenwich, CT.
Broad Art Foundation, Santa Monica, CA.
Brooklyn Museum, Brooklyn, NY.
Daros Collection, Zurich, Switzerland.
Fondazione Bevilacqua La Masa, Venice, Italy.
Fukuoka Art Museum, Fukuoka, Japan.
Guggenheim Bilbao, Bilbao, Spain.
High Museum of Art, Atlanta, GA.
Ho man Collection, Berlin, Germany.
Ludwig Forum for International Art, Aachen, Germany.
Menil Collection, Houston, TX.
Metropolitan Museum of Art, New York, NY.
Modern Art Museum of Fort Worth, TX.
Musee d’Art Contemporain, Marseilles, France.
Musée du Luxembourg, Paris, France.
Museu d’Art Contemporani, Barcelona, Spain.
Museum of Contemporary Art, Los Angeles, CA.
Museum of Fine Arts, Boston, MA.
Museum of Modern Art, New York, NY.
Nasher Museum of Art, Duke University, Durham, NC.
Portland Art Museum, Portland, OR.
Princeton University Art Museum, Princeton, NJ.
Rubell Family Collection, Miami, FL.
San Francisco Museum of Modern Art, San Francisco, CA.
Whitney Museum of American Art, New York, NY.
Expert
TGB London Limited, founded in 2016 by Simon Portlock and Bradley Ridge is an art advisory and brokerage company. Leveraging the expertise of Simon and Bradley in the contemporary art market, TGB specialises in guiding collectors to curate world-class art collections. With a commitment to excellence, TGB provides unparalleled insights and support to art collectors ensuring the creation of exceptional and noteworthy collections.
