“I’ve bought the banana!!!” revelled Justin Sun, the Chinese billionaire and founder of cryptocurrency platform TRON. Maurizio Cattelan’s Comedian (2019) smashed auction records at Sotheby’s New York, selling for a staggering $6.2 million (£4.9 million) including buyer’s premium on 20th November 2024.

After weeks of anticipation, the atmosphere in the auction house’s Upper East Side location was electric. Intrigued lovers of contemporary art swarmed into both the bidding room, as well as its virtual viewing room. One online watcher commented “we’re only here for the banana dude.” 

The crowd only waited a short time before the infamous banana made its appearance at the prestigious evening sale. Auctioneer Oliver Barker introduced as the  “viral sensation that has skyrocketed to universal recognition . . . here it is in all its splendour.”

Bidding kicked off at $800,000 (£639,000), and quickly soared to $2.2 million (£1.7 million). From then onwards, online bidders took over the mantel with the crypto king Sun placing the winning bid at $5.2 million (£4.1 million) as the hammer fell, almost six times the low estimate.

“This is not just an artwork,” said Sun in a statement to Sotheby’s, “it represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community. I believe this piece will inspire more thought and discussion in the future and will become a part of history.”

Cattelan’s Comedian first ignited the art scene at Art Basel Miami Beach in 2019, where it became an instantly controversial – and viral – sensation. The piece was conceived as an edition of three plus two artist’s proofs, which sold for $120,000 (£95,000) and $150,000 (£120,000). Cattelan, a visual artist from Italy, is known for his hyper realistic, witty, and satirical installations. Despite its hefty price tag, “the world’s most expensive banana” is indeed still perishable; each new owner has the responsibility of replacing it as necessary. But Sun is putting his own twist on Cattelan’s playful piece, stating “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.”