Art Industry News: Hedge-Fund Manager Ken Griffin Just Bought a Basquiat From Peter Brant for More Than $100 Million + Other Stories (ArtNet News)
Ken Griffin Buys a $100 Million Basquiat – The art market has always seemed to operate in its own universe, somewhat disconnected from the reality of the rest of the world—and right now is no different. According to the industry newsletter Baer Faxt, hedge-fund manager Ken Griffin purchased a work by Jean-Michel Basquiat privately for more than $100 million. (The news comes as New York’s major spring auctions have been rescheduled and activity at the top of the art market has been quiet.) The seller was reportedly Peter Brant, Griffin’s new neighbor in Palm Beach, who mounted a glitzy display of the artist’s work at his private museum in Manhattan last year. Basquiat’s public auction record is $110.5 million, set at Sotheby’s in 2017.
Ken Griffin Buys a $100 Million Basquiat – The art market has always seemed to operate in its own universe, somewhat disconnected from the reality of the rest of the world—and right now is no different. According to the industry newsletter Baer Faxt, hedge-fund manager Ken Griffin purchased a work by Jean-Michel Basquiat privately for more than $100 million. (The news comes as New York’s major spring auctions have been rescheduled and activity at the top of the art market has been quiet.) The seller was reportedly Peter Brant, Griffin’s new neighbor in Palm Beach, who mounted a glitzy display of the artist’s work at his private museum in Manhattan last year. Basquiat’s public auction record is $110.5 million, set at Sotheby’s in 2017.
