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Fine Print

Flesh and Spirit and Advanced Lessons for Buying at Auction

The fracas leading up to and after Sotheby’s New York sale this year, of Jean-Michel Basquiat’s 1983 mixed-media work, Flesh and Spirit, highlights basic lessons that every collector must learn. The four-panel canvas, bestowed with not one, but two skulls by the famed art-world Icarus, belonged to the estate of the late Dolores Ormandy Neumann, whose penchant for street art in the 1980s led her to convince her parents to purchase it for her. Their USD 15,000 investment ballooned to over USD…

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