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A Basquiat painting just set a $110.5 million auction record for American art

Among American artists, living and departed, Jean-Michel Basquiat just bested them all. The auction of Basquiat's piece elicited gasps from an observing crowd, according to the Times. The winning bid placed over the phone by Yuki Terase, a Japanese business developer for Sotheby's. The developer battled art dealer Nicholas Maclean, who represented Japanese billionaire Yusaku Maezawa.
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