Duct-taped Banana Sells for $6.2 Million

Either the art world has gone completely bonkers or the rest of us are just not “hip to the jive.” Cryptocurrency investor Justin Sun was the highest bidder paying $6.2 million for a single banana duct-taped to a wall. The banana is part of a piece of artwork called Comedian, created by Italian artist and satirist Maurizio Cattelan. 

After a battle with six others for the artwork at a Sotheby’s auction in NYC, the founder of the cryptocurrency TRON paid for the piece in crypto. 

“I believe this piece will inspire more thought and discussion in the future and will become a part of history,” Sun said on X. “I am honored to be the proud owner of this iconic work and look forward to it sparking further inspiration and impact for art enthusiasts around the world.”

Sun plans to eat his multi-million dollar investment.

“In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art and history and popular culture,” he stated. Sun’s banana snack won’t change the value of the investment. His $6.2 million purchase awarded him a roll of duct tape, instructions on how to “install” the banana properly and, most importantly a certificate of authenticity guaranteeing the artwork, when reproduced by Sun, as an original artwork of Cattelan’s.   

“What you buy when you buy Cattelan’s Comedian is not the banana itself (the fruit does have a tendency to rot), but a certificate of authenticity that grants the owner the permission and authority to reproduce this banana and duct tape on their wall as an original artwork by Maurizio Cattelan,” stated David Galerin, Sotheby’s head of contemporary art. 

For crypto fanatics like Sun, the artwork’s similarity to an NFT (non-fungible token, a digital certificate of ownership for an asset) most likely did not go unnoticed. 

“This is not just an artwork, it represents a cultural phenomena that bridges the world’s of art, memes, and the cryptocurrency community, “ Sun added. 

"Comedian” debuted at Art Basel Miami in 2019, where it was priced at $120,000. The image of a banana duct-taped to a wall went viral on social media and attracted such large crowds that the artwork had to be taken down. 

Three editions of “Comedian” were created and sold, with one going to the Guggenheim Collection thanks to an anonymous donor and the other two were purchased.

In contrast, a signed screenprint of Andy Warhol’s Banana (1966) recently sold at Christies for $92,500. The banana image was originally created for the debut album of the controversial rock band, Velvet Underground and Nico. The album cover featured the banana, which the viewer was invited to peel back to reveal a flesh-colored fruit.

Note: If one was to conjecture on the great difference in price between the two bananas, perhaps it is due to the fact the owner of Cattelan’s banana can eat the artwork he purchased.