One Of Jean-Michel Basquiat’s Paintings Just Sold For A Record $110.5 Million

It sets the record for any American artist.

Jean-Michel Basquiat, the famous American artist who grew to great acclaim in the 1980s and who passed away nearly three decades ago, still has some of the most sought after pieces in the art world. Nothing proves that more than the record breaking sale of Basquiat's "Untitled" (1982), which sold for more than any other American artists' work at $110.5 million. The piece sold through Sotheby's, a global art business, during an auction. The winning bidder, Yusaku Maezawa, from Tokyo and the founder of Japan's largest online fashion mall, placed his bid over the phone.

"When I first encountered this painting," wrote Maezawa in an instagram post. "I was struck with so much excitement and gratitude for my love of art. I want to share that experience with as many people as possible."

The piece, which can be seen pictured above, beat out the record previously set by Andy Warhol's "Silver Car Crash (Double Disaster)" at $104.5 million, according to The Wall Street Journal .

One Of Jean-Michel Basquiat’s Paintings Just Sold For A Record $110.5 Million