Banana taped to wall expected to fetch at least $1 million at auction
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The price of a banana has remained relatively stable in recent years, despite inflation. The price of a banana taped to a wall, however, has skyrocketed.
Why it matters: On Wednesday Sotheby's will auction a conceptual artwork of a banana duct-taped to a wall, with an estimated price of $1 million to $1.5 million, more than eight times its original sale price.
Catch up quick: Italian artist Maurizio Cattelan's "Comedian" debuted at Art Basel Miami in 2019 and caused a stir over the nature of art and commentary.
- The work is simply a banana from a grocery store, taped to a wall.
- The gallery owner who exhibited the fruit called it a "symbol of global trade."
- It sold for $120,000, and Cattelan later won a suit accusing him of copyright infringement.
By the numbers: According to the USDA, nearly five years ago the monthly average retail price for a pound of bananas was 57.4 cents, and now stands at 61.7 cents, an increase of 7.5%.
- At the low end of Sotheby's estimate, the price of a banana taped to a wall has risen at least 733%.
The bottom line: The piece up for auction Wednesday is one of three created by Cattelan, though the original banana itself is long gone.
