Jean-Michel Basquiat’s art is a testament to his unique blend of graffiti, text, and vibrant imagery. While his works are celebrated globally, they are predominantly held in private collections, a reflection of the artist’s complex relationship with institutions. The majority of Basquiat’s pieces, roughly 85-90%, are in private hands, with a few key works residing in public institutions. These private collectors include some of the world’s most influential figures, including celebrities, hedge fund managers, and art patrons.
One of the most notable private collectors is billionaire Yusaku Maezawa, who owns Untitled (1982), a haunting skull painting that sold for $110.5 million at a Sotheby’s auction in 2017, setting a record for the highest price paid for a Basquiat. Maezawa also owns Untitled (Devil) (1982), another major piece from Basquiat’s prolific year. These works are not only treasured in private collections but are also frequently loaned to exhibitions, helping to keep Basquiat’s influence alive in the public eye.
Other prominent Basquiat collectors include hip-hop mogul Jay-Z and his wife, Beyoncé. Jay-Z owns Charles The First (1982) as a print, a work that inspired his album Magna Carta Holy Grail and is a powerful symbol of fame and success. In addition to this, Jay-Z owns the original Mecca (1982), purchased for $4.5 million in 2013. He also lent CPRKR (1981), a piece that addresses police brutality, to the Guggenheim for its Basquiat’s Defacement: The Untold Story exhibition.
Billionaire hedge fund manager Kenneth C. Griffin also owns a major Basquiat work, Boy And Dog In A Johnnypump (1982), which he purchased for over $100 million in 2020. Griffin, a long-time trustee of the Art Institute of Chicago, displayed the piece there before relocating it to Florida, where it now resides alongside his extensive art collection.
Other notable collectors include musician Lenny Kravitz, who has owned a Basquiat piece since the 1990s, and actor Johnny Depp, who has owned works such as The Field Next To The Other Road (1981). These collectors, along with others such as Leonardo DiCaprio and Tommy Hilfiger, contribute to Basquiat’s enduring cultural relevance, ensuring that his works are not only preserved but also continue to inspire new generations.
While Basquiat’s works are largely held in private hands, they are occasionally showcased in public exhibitions, often through loans from collectors. Institutions like the Whitney Museum of American Art, the Museum of Modern Art, and the Brooklyn Museum have all displayed Basquiat’s work, offering the public a rare glimpse into his powerful commentary on race, class, and societal issues.
The Basquiat estate, managed by his sisters Jeanine Heriveaux and Lisane Basquiat, also plays a key role in preserving the artist’s legacy. The estate has curated exhibitions such as Jean-Michel Basquiat: King Pleasure, which featured over 200 pieces, including Now’s the Time (1985), a work inspired by jazz legend Charlie Parker.
Despite the dominance of private ownership, Basquiat’s influence continues to grow. His work remains highly sought after at auctions, where it regularly sets new records. The increasing value of his art has led to legal disputes, such as the controversy surrounding Humidity (1982), which was sold by art dealer Inigo Philbrick, sparking ownership battles.
In addition to these high-profile collectors, corporations like Tiffany & Co. have also acquired Basquiat’s work. Tiffany owns Equals Pi (1982), a striking piece with a robin egg blue background that complements the brand’s signature color. The painting is prominently displayed at Tiffany’s flagship store in New York, reflecting the growing intersection of luxury and fine art.
Basquiat’s art has also been the subject of forgery scandals. In 2022, the FBI seized 25 fake Basquiat paintings from the Orlando Museum of Art. These forgeries were part of an exhibition titled Heroes & Monsters, highlighting the risks that come with the high demand for Basquiat’s works.
Though the majority of Basquiat’s works remain in private collections, the efforts of the Basquiat estate and public institutions to make his art accessible ensure that his legacy remains vibrant and influential. Whether on the walls of museums, in the homes of collectors, or in corporate galleries, Basquiat’s works continue to shape contemporary culture, making him one of the most iconic and valuable artists of our time.
