2 Attachment(s) A painting by Jean-Michel Basquiat has sold for a record $110.5m (£85m) at an auction in New York, in the newest show of the art market's attraction to super rich speculators and art-lovers.

The sale of Untitled sets a new large to get a work with a US artist and is the first function of art produced since 1980 to sell for more than $100m. It lags behind the most costly painting Nafea Faa Ipoipo, of time? or When Will You Marry? For a documented near-$300 m in 2015., which sold by Paul Gauguin But nevertheless the buy with a Japanese entrepreneur underlines the lure of artwork to the rich.

Why has a Basquiat painting sold for this kind of large sum?
Japanese collector and on the web style mogul Yusaku Maezawa, who acquired the painting on Thursday evening, is a large fan of the New York artist who died of a drug overdose in 1988 aged 2-7. A year ago, Maezawa purchased a 1982 untitled function by Basquiat for $57.3m as part of a week long $98m spending spree duri