In a sale that could make it the priciest fruit ever, a banana duct-taped to a wall fetched an astounding $6.2 million at a Sotheby's auction in New York on Wednesday, November 20. The piece, titled "Comedian," is a conceptual artwork by Italian artist Maurizio Cattelan and was bought by Chinese crypto entrepreneur Justin Sun for four times its estimated value, with payment made in cryptocurrency.

In a statement on his purchase, Sun said the work "represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community."

He added, "In the coming days, I will personally eat the banana as part of this unique artistic experience, honouring its place in both art history and popular culture."

What does the Artwork Represent?

When Italian artist Maurizio Cattelan's work "Comedian" was first unveiled at Art Basel Miami Beach in 2019, it sparked a buzz as attendees debated whether the single yellow banana affixed to a white wall with silver duct tape was a playful prank or a sly commentary on the questionable tastes of art collectors.

At one point, another artist even ate the banana after detaching it from the wall.

Critics and fans alike couldn't stop talking about the banana. Some questioned, was it a stroke of genius or a joke?

Afterall, the artwork is just a fresh banana affixed to a wall with duct tape. Its purchaser receives a roll of duct tape, instructions on how to "install" the banana and a certificate of authenticity guaranteeing it is an original work. The banana and the duct tape need to be replaced, as required. Some referred to it as a "lesson in the excesses of the global economy."

It definitely is an intriguing way to look at the modern art industry.

Speaking to The Art Newspaper in 2021, Cattelan shared the thought process behind the work. He said, "To me, Comedian was not a joke; it was a sincere commentary and a reflection on what we value. At art fairs, speed and business reign, so I saw it like this: If I had to be at a fair, I could sell a banana like others sell their paintings. I could play within the system but with my rules."

The artwork received so much attention that it had to be taken down from display. However, the gallery that handled sales at the time reported that three editions brought in between $120,000 and $150,000.

Who Bought the Artwork?

Nearly five years later, Justin Sun, the founder of the cryptocurrency platform TRON, purchased the item at a Sotheby's auction for more than 40 times its higher estimate. Essentially, Sun acquired an authenticity certificate that grants him the right to attach a banana to a wall and label it as "Comedian."

The artwork garnered significant attention at the auction, with bidding starting at $800,000 and climbing to $2 million, $3 million, $4 million, and beyond. The final bid was $5.2 million, excluding approximately $1 million in auction fees paid by the buyer.

According to Sun, the piece represents a cultural phenomenon that connects the worlds of art, memes, and cryptocurrency.

Sotheby's referred to Cattelan as one of the most brilliant provocateurs in Contemporary Art.