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 RELEASE Contemporary 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 $57,285,000 Lot38B : 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