Slate Daily Feed Slate Money - Money Talks: How Basquiat's Art Became a Good Investment
Sep 30, 2025
Doug Woodham, former president of Christie's Americas and author of "Jean-Michel Basquiat: The Making of an Icon," dives into the fascinating world of art investment. He discusses how Basquiat, once undervalued, became a key figure in the modern art scene. Woodham highlights the impact of significant collectors in reviving his market and explores how societal factors, like his early death, enhanced his myth. He also sheds light on the complexities of the art market, institutional endorsements, and the role of media in shaping perceptions.
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Museums Lagged In Acquiring Basquiats
- Basquiat remained underrepresented in museums for decades because institutions historically avoided a young Black artist associated with street culture and drugs.
- That scarcity of museum-held anchor works kept most Basquiats in private hands and off public display.
Few Public Places Show Major Works
- The Broad holds 14 Basquiats and Nicola Ernie in Zug displays a major private collection, making those among the few public access points.
- Most people know Basquiat from reproductions, not seeing the large original canvases in person.
Intellect Fueled Artistic Range
- Basquiat's visual breadth came from being intellectually gifted and voraciously curious from childhood.
- That intellect let him master art history, produce prolifically, and navigate diverse social circles and collectors.
