Justin Sun Says He'll Eat $6.2 Million Banana Bought at Sotheby's
Maurizio Cattelan’s infamous Comedian, a banana duct-taped to a wall, reached new heights at Sotheby’s Evening Auction on October 25, 2024, in New York City. The conceptual artwork, which first made waves at Art Basel Miami Beach in 2019 when it sold for $120,000, fetched a staggering $6.2 million, including buyer’s premium.
Bidding began at $800,000 and culminated in a six-minute frenzy, with the final hammer brought down by Jen Hua, deputy chairman of Sotheby’s Asia, on behalf of Justin Sun, the founder of cryptocurrency platform TRON and a well-known art collector.
"When I first heard about this work back in 2019, I thought it was pure genius. And when I heard it was back on the market, I knew I had to have it. Cattelan’s humor and sense of adventure strike a strong chord with me, and I’m thrilled to now be its proud owner," Sun told Sotheby's.
"Additionally, in the coming days, I will personally eat the banana 🍌as part of this unique artistic experience, honoring its place in both art history and popular culture. Stay tuned!" Sun told his 3.6 million followers on X.
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
Sun is no stranger to the spotlight. Known for blending cryptocurrency promotion with audacious stunts, he first gained widespread attention in 2019 when he bid $4.57 million in a charity auction to have lunch with Warren Buffett, a notorious crypto skeptic. Though the lunch faced delays and logistical hiccups, Sun leveraged the publicity to bolster TRON’s profile.
His forays into the art world have been equally headline-grabbing. In 2021, Sun purchased Le Nez by Alberto Giacometti for $78.4 million at Sotheby’s. He also acquired Femme nue couchée au collier (Marie-Thérèse) by Pablo Picasso at $20 million and Three Self-Portraits by Andy Warhol at $2 million at a Christies sale, and paid $6 million for OCEAN FRONT, an NFT artwork by crypto artist Beeple.
Sotheby’s has increasingly catered to crypto-savvy buyers. The auction house allowed cryptocurrency payments for select lots during its marquee New York sales, including Cattelan’s banana.
“With cryptocurrencies in price discovery mode and making new all-time highs, we expect to see those heavily invested looking to redistribute some of their profits into blue-chip assets just as we did in the 2021 boom cycle,” Sebastian Fahey, Sotheby’s head of global fine art, said, ArtNet reported.
Cattelan’s Comedian continues to inspire beyond the art world. Last month, Michael Bouhanna, Sotheby’s head of digital art and NFTs, launched a meme coin called Comedian ($BAN). Built on the Pump.Fun platform, $BAN currently has a market capitalization of over $166 million, despite Bouhanna’s claims of no active promotion.