Join Kelly Crow, a WSJ reporter specializing in the art market, as she reveals the surprising journey of a banana duct-taped to a wall that sold for $6.2 million. She explores its debut at Art Basel 2019 and the viral sensation it sparked. The conversation covers art ownership, the absurdity of high valuations, and how social consensus influences perceived worth. Kelly also discusses the intriguing parallels between this iconic artwork and the world of NFTs, shedding light on contemporary art's complex dynamics and cultural implications.
Maurizio Cattelan's artwork 'Comedian,' a banana taped to a wall, challenges traditional notions of art value and authenticity.
The $6.2 million auction price exemplifies how whimsy in art can ignite market confidence and reshape collector engagement.
Deep dives
The Art of Absurdity
The banana duct taped to a wall, exhibited at Art Basel in Miami in 2019, emerged as a profound commentary on the art market's perceptions and absurdities. Initially dismissed as just quirky contemporary art, it sparked discussions about the authenticity and value of art amidst a backdrop of skepticism within the art world. The banana's outrageous price of $120,000 intrigued both the art community and the public alike, leading to a viral sensation that challenged mainstream perceptions of art as a legitimate marketplace. Maurizio Catalan, the artist behind this piece, aimed to provoke thought and ridicule the industry's seriousness by introducing an outrageous and humorous artwork.
Comedian and Its Instructions
The artwork, titled 'Comedian,' consists of a real banana and duct tape and comes with a unique certificate of authenticity that includes a 14-page instruction manual. Buyers learn they can create their own version of the artwork by adhering a banana with duct tape to a wall following specific guidelines, such as size and placement. This element of interactivity reinforces the idea that ownership in art can be conceptual and ephemeral, similar to NFTs, which rely on certificates of ownership and digital proof rather than a physical object. The intricacy of the instructions signifies the complexity of appreciation and value in modern art, where the experience often outweighs the material itself.
The Auction's Impact on Art Market
The eventual auction of the banana at Sotheby's for $6.2 million illustrated the fluctuating dynamics within the art market, especially during economically challenging times. This event brought renewed excitement and attention to the art auction scene, driving interest and participation among collectors who typically may have felt hesitant about spending amid declining sales. The auction proved that public interest in whimsical art pieces could serve as a barometer for broader market confidence and engagement. Moreover, it highlighted how novelty and spectacle can play significant roles in redefining the perception of art and its market, paving the way for future trends in collecting.
Last month, Maurizio Cattelan’s “Comedian,” a piece of conceptual art that consists of a banana duct taped to a wall, sold at a Sotheby’s auction for $6.2 million. WSJ’s Kelly Crow traces the banana’s origins from Art Basel Miami in 2019 to the top of the art market this year.