`Broke and Rundown' New York Emerges as Hot Art Trend in London
- A 1982 Basquiat painting fetched $19.4 million at Sotheby’s
- Film producer Michael Lynne said to be selling 23 artworks
A 1982 painting by Jean-Michel Basquiat fetched 14.7 million pounds ($19.4 million) at Sotheby’s in London Tuesday.
The untitled work depicting an orange head led a group of 23 lots sold by movie producer Michael Lynne, according to a person familiar with the matter, who asked not to be identified discussing confidential information. The painting, which was offered at auction for the first time and surpassed the high estimate of 10 million pounds, had remained in the same collection since 1998, according to Sotheby’s.