Justin Sun Acquires Banana Artwork for $6.24 Million

Tron founder Justin Sun has paid $6.24 million for the work of Italian artist Maurizio Cattelan, titled “Comedian”.

After over 6 minutes of heated bidding, Deputy Chairman of Sotheby’s and Chairman of Sotheby’s China, Jen Hua, placed the winning bid for ‘Comedian’ on behalf of @justinsuntron, Chinese collector and founder of cryptocurrency platform TRON. https://t.co/Vf6kMoHfOQ

— Sotheby’s (@Sothebys) November 21, 2024

The art piece consists of a banana affixed to a wall with duct tape. Seven bidders, including Sun, competed for the lot at Sotheby’s for several minutes. From a starting price of $800,000, the artwork’s value soared to several million within minutes. The bidding concluded with the Tron founder’s offer of $5.2 million, with an additional $1 million in auction house fees.

The Sotheby’s lot page indicates that cryptocurrency payments are accepted, though the new owner did not specify the method of payment.

I’m thrilled to announce that I’ve bought the banana? !!! @SpaceX @Sothebys I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million. This is not just an artwork; it represents a cultural phenomenon… pic.twitter.com/lAj1RE6y0C

— H.E. Justin Sun ? (@justinsuntron) November 21, 2024

“This is not just an artwork; it is a cultural phenomenon that bridges the worlds of art, memes, and the crypto community,” Sun emphasized.

The owner is expected to replace the fruit as needed, with a certificate of authenticity to affirm its cultural status.

“Additionally, in the coming days, I will personally eat the banana as part of this unique artistic experience, paying homage to its place in both art history and popular culture,” added the Tron founder.

Notably, the central element of “Comedian” has been consumed at least twice before: once by a hungry student at an exhibition in Seoul and by a New York performance artist during a show in Miami.

Like other works by Cattelan, “Comedian” is provocative. His portfolio includes, for instance, a gold toilet and the Pope struck by a meteorite.

In addition to this new art piece, Sun’s collection includes a Tpunk#3442 token worth $10.5 million, one NFT from the CryptoPunks collection, and 36 non-fungible tokens in The Sandbox valued at approximately $175,000 (at floor price).

Back in late October, Sotheby’s Vice President and Head of Digital Art Michael Bouhanna achieved a 490-fold profit from the sale of the BAN token, which he himself launched.