Jean-Michel Basquiat's "Untitled" from 1982 just sold for a whopping $110.5 million USD, breaking the record for a painting sold by any American artist. The piece was auctioned off by Sotheby's, a global art business, and purchased by Yusaku Maezawa, founder of Japan's largest online fashion mall.
Per an Instagram post, Maezawa stated, "When I first encountered this painting, I was struck with so much excitement and gratitude for my love of art. I want to share that experience with as many people as possible."
Previously holding the record for the highest-selling painting by an American artist was Andy Warhol's "Silver Car Crash (Double Disaster)," which sold for $104.5 million USD.