New York, USA – Maurizio Cattelan’s unconventional artwork featuring a banana duct-taped to a wall has made headlines after being sold at an auction for an astounding $5.2 million. Surpassing initial estimates of $1 to $1.5 million, the piece, known as Comedian, was one of three editions created in 2019.

The auction, held at Sotheby’s New York as part of its contemporary art auction, generated a buzz with bidders participating in person, over the phone, and online – even accepting bids in cryptocurrencies. Beginning at $800,000, the bidding war quickly escalated, exceeding all expectations.

Auctioneer Oliver Barker humorously remarked, “I never thought I’d say ‘5 million dollars for a banana’,” as the price climbed during the auction. The banana in question was reportedly purchased for just 35 cents earlier that same day, adding an element of irony to the extravagant sale.

This particular edition of Comedian was acquired by Jen Hua from Sotheby’s China office, on behalf of Chinese-born crypto entrepreneur Justin Sun, who will pay a total of $6.2 million, including the buyer’s premium. In addition to the banana and duct tape, the buyer will receive a certificate of authenticity and instructions on how to install the artwork.

Described as a cultural phenomenon that merges art, memes, and the cryptocurrency community, Sun believes that the piece will spark further discussion and hold a significant place in history. Despite the high price tag, Sun intends to honor the artwork by consuming the banana, symbolizing its role in art history and popular culture.

Cattelan, known for his provocative works like a solid gold functioning toilet titled America, viewed Comedian as a satirical commentary on societal values and the commercialized nature of the art world. The piece initially gained attention at the Art Basel Miami fair and went viral after a performance artist removed and consumed the original banana, sparking debates on art and its worth.