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3Novices:Japanese billionaire who spent US$110.5 million on Basquiat masterpiece emerges as new champion for young artists

With a single post on Instagram, Yusaku Maezawa announced not only his purchase of an US$110.5 million Basquiat masterpiece, and his place in auction history, but arguably signalled a new era for art in Japan.
The price, a record for the artist, is reminiscent of 1980s Japan when corporate big-spenders splashed out on Impressionist art – along with foreign property and businesses – in an asset-buying spree.
But billionaire Maezawa insists he is just an “ordinary collector…
June 10, 2017 at 12:44PM http://ift.tt/2sNlaoQ
#3Novices #News #OnlineMedia #China 3Novices China

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