A large canvas by Jean-Michel Basquiat (1960-1988), from the collection of designer Valentino Garavani, was sold at auction at Christie's in New York, on the night of Monday 15 May, for 67,110,000 dollars (61,680,000 euros).

The work, entitled "El Gran Espectaculo (The Nile)", painted when the African-American artist was only 22 years old and is one of the three large canvases he made that year, started from an estimate of 45 million dollars: the triptych depicts skulls and floating figures with scribbled phrases that refer to ancient mythological texts.

Three bidders (including the famous gallerist Larry Gagosian, but he is not the buyer) progressively raised the stakes for the work, which eventually reached $ 58 million and was awarded to a bidder on the phone with Vanessa Fusco, a specialist at Christie's in New York, for a final price of just over $ 67 million with commissions.

This is the fourth highest price paid for a work by the father of American graffiti who died at the age of 27 from an overdose: the artist's record is 110.5 million dollars, established in May 2017 with "Untitled" (1982). The proceeds from the sale of the Basquiat, explained a spokesperson for Christie's, will benefit in part the Valentino Academy, founded in 2013 to promote excellence, strengthen the corporate culture and give support and inspiration to young talents in the paths of growth and development within the Maison.