- Sun said the banana would “inspire more thought and discussion in the future”
- Bidding started at $800,000 before jumping into the millions
- Sun’s winning bid was $5.2 million plus $1 million in Sotheby fees
Justin Sun has paid $6.24 million for a banana taped to a wall at a New York auction, stating that it “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.”
Taking to X, Sun, the founder of Tron, said: “I believe this piece will inspire more thought and discussion in the future and will become a part of history. I am honored to be the proud owner of the banana and look forward to it sparking further inspiration and impact for art enthusiasts around the world.”
Sun said he will “personally eat the banana” in the next few days.
I’m thrilled to announce that I’ve bought the banana🍌 !!! @SpaceX @Sothebys I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million. This is not just an artwork; it represents a cultural phenomenon… pic.twitter.com/lAj1RE6y0C
— H.E. Justin Sun 🍌 (@justinsuntron) November 21, 2024
The artwork is Maurizio Catteland’s “Comedian” and is just a banana stuck to a wall with duct tape.
Sotheby’s, who hosted the auction, started bidding at $800,000 before jumping into the millions. At one stage the auctioneer said: “These are words I thought I’d never say, $5 million for a banana,” shortly followed by “don’t let it slip away.”
During over six minutes of bidding, the Deputy Chairman of Sotheby’s and Chairman of Sotheby’s China, Jen Hua, placed the winning bid of $5.2 million plus $1 million in Sotheby fees. Before the auction, Sotheby’s estimated it would sell between $1 million and $1.5 million.
Sun will receive a certificate of authenticity signed by the artist.
The sale of the banana comes as the crypto market is experiencing a surge in value. Yesterday, Bitcoin broke the $94,000 barrier, continuing its upward trajectory to over $97,800 in the early hours of this morning.