Maezawa posing in front of the painting.

Contemporary Art Foundation (Tokyo, Japan) is pleased to announce that Yusaku Maezawa, the founder of Contemporary Art Foundation, has purchased Lot No. 36B “Untitled” by Jean-Michel Basquiat for $57.3 million at Christie’s Post-War and Contemporary Art Evening Sale on May 10th. He was successful in acquiring four other pieces from the sale. Please find the list of works below. Maezawa plans to open a private museum within a few years in Chiba, where he grew up. With this goal in mind he has been collecting steadily over the last ten years. He would like to share this comment about the Basquiat: “Basquiat was 22 years old in 1982 when he created this painting. I believe the most raw elemental gestures and emotions of the artist are imbued throughout this work. When I encountered the work at the Christie’s New York preview, I had an immediate visceral connection it. Generationally, I relate to Basquiat’s culture and the essence of his life story. Rather than monetary or investment value, I felt I had a personal responsibility to take care of this mas-terpiece and preserve it for the next generation. This Basquiat was first exhibited in Tokyo in 1985. For Japan, this was an art historical moment. To have encountered such a superb painting gives me great joy from the bottom of my heart and I feel privileged and honored to own it. I am very grateful and proud of this moment.” Contemporary Art Foundation hosts collection shows twice per year and we look forward to sharing the painting with the public in the near future. Please follow our foundation news for announcements and plans.

Contemporary Art Foundation's Maezawa adds Christie's Basquiat to his collection

FOR IMMEDIATE RELEASEContemporary Art Foundation

［List of works］Lot1B : EAT WAR (1986) by BRUCE NAUMAN for $1,685,000 Lot10B : SUMAC 17 (1955) by ALEXANDER CALDER for $5,765,000 Lot36B : UNTITLED (1982) by JEAN-MICHEL BASQUIAT for $57,285,000Lot38B : RUNAWAY NURSE (2005-2006) by RICHARD PRINCE for $9,685,000 Lot42B : LOBSTER (2007-2012) by JEFF KOONS for $6,885,000

May 12th, 2016

Press Contact DetailsContemporary Art Foundation

tel：+81 3-6441-3264 fax：+81 3-6441-3265　 mail：contact@gendai-art.org1-9-18-1102 Ark Hills Sengokuyama Residences, Roppongi, Minato-ku, Tokyo JAPAN

Contemporary Art FoundationMay 12th, 2016

Contemporary Art Foundation was established in 2012 by Yusaku Maezawa, the Founder and President of Start Today Co., Ltd., which runs Japan’s biggest online fashion mall, “ZOZOTOWN”. The foundation aims to contribute to the promotion of contemporary art by helping young artists and young musicians improve their skills. It also carries out activities such as holding contemporary art exhibitions, etc., to popularize and improve knowledge and education of contemporary art.

Yusaku Maezawa was born in 1975 in Chiba. After gradu-ating from Waseda Jitsugyo he left for the United States to play in a band. After returning to Japan, he estab-lished Start Today Co., Ltd. in 1998 which engaged in catalog sales of imported CDs and records. In 2004 he founded “ZOZOTOWN”; an online fashion shopping site. The company was listed on the first section of the Tokyo Stock Exchange (3092) in February 2012, and in Novem-ber, the Contemporary Art Foundation was established. He is a collector, mainly of contemporary art, and also works hard to support young artists.

［About Contemporary Art Foundation and Yusaku Maezawa］

UNTITLED (1982) by JEAN-MICHEL BASQUIAT

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