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Knock, Knock: Orange You Glad I Didn’t Say Banana
The traditional elements that define the value of art include social value, provenance, authenticity, copyright, and market value. In the case of Maurizio Cattelan’s conceptual artwork Comedian, the value of this controversial piece is derived from the social value created by its entry into pop culture and Maurizio Cattelan’s recognition as a renowned artist.[1]
The Mona Lisa of Fruit
The conceptual artwork Comedian debuted in 2019 at Art Basel Miami in the booth of French art dealer Emmanuel Perrotin. You likely don’t know Comedian by its title, but rather as the infamous banana duct-taped to a white wall. It immediately sparked worldwide controversy over its $120,000 price tag, which many critics perceived as an example of the excesses of the art world. Cattelan stated in an interview that he “conceived the work as a satirical jab at [art] market speculation, asking the question, ‘On what basis does an object acquire value in the art system?’” [2]
Cattelan created Comedian as a limited edition of three pieces. After Art Basel in 2019, all three works sold to private collectors—two for $120,000 and one for $150,000. The second edition of Comedian recently fetched a price at auction that was no laughing matter. Cryptocurrency entrepreneur Justin Sun, an art collector from Hong Kong, paid $6.2 million for this edition of Comedian at Sotheby’s. Sun spent over $5 million more than the initial estimated value of $1 million. The banana used in the Sotheby’s auction was purchased for just $ .35 from a bodega near the auction house. [3]
Value Created Through Copyright
Copyright also adds value to artwork by enabling artists or art owners to financially benefit from the pieces they have created or own. However, copyright law does not protect ideas and processes—the “core elements of conceptual art.” Copyright protection is granted only to original and creative works fixed in a tangible medium. It is common knowledge that a real banana will eventually rot, and in the case of Comedian, the piece will cease to exist in its art form; therefore, it cannot be considered a fixed, tangible medium. So, how can Maurizio Cattelan maintain copyright ownership over the creation and expression of Comedian? The solution devised by the art world is to issue certificates of authenticity. Conceptual artists like Maurizio Cattelan may issue a certificate of authenticity to affirm their role in the artwork, ensuring that “after it has been sold, regardless of who executes the ideas stipulated in their instructions, it is still considered their work.” [4]
Certificates of Authenticity
Cattelan issued three certificates of authenticity for Comedian, allowing each edition to maintain its value on the secondary art market. If you’re a collector interested in purchasing conceptual artworks like Comedian, it’s essential to inquire whether a certificate of authenticity will accompany the piece you’re buying, as this maintains the artwork’s relationship to the artist and preserves its value if it’s sold on the secondary market. Our firm can represent and advise you during these types of transactions if you need assistance. If you would like to know more about our services, please complete the consultation form below to learn how our firm can assist you in purchasing art.
[1] Guide to Art Pricing and Appraisals. https://www.myartbroker.com/collecting/articles/how-to-value-art-guide-to-art-pricing-and-appraisals (Last Accessed: February 13, 2025).
[2] Cattelan Banana Sotheby’s Auction. https://www.nytimes.com/2024/11/20/arts/design/cattelan-banana-sothebys-auction.html. (Last Accessed: February 13, 2025).
[3] Id.
[4] Can a Duct Taped Banana Be a Copyrightable Work of Art? https://itsartlaw.org/2024/12/14/can-a-duct-taped-banana-be-a-copyrightable-work-of-art/. (Last Accessed: February 13, 2025).