Ulrich Selling Basquiat Painting
METALLICA drummer LARS ULRICH looks set to cash in on an artwork by late graffiti artist JEAN-MICHEL BASQUIAT - the piece is going to auction with an estimated value of $11.1 million (GBP6 million).
The rocker, who bought Unititled (Boxer) 10 years ago (98), has decided to put it up for sale at New York auction house Christie's.
Basquiat's painting, which features a black heavyweight fighter, has been hailed as an "extraordinary" piece of art by Christie's co-head of contemporary art, Brett Gorvy.
He says, "Untitled (Boxer) is the very best of the artist."
Ulrich, an avid art collector, states he is ready to give up the painting for others to enjoy.
He explains, "As a collector, I view myself as a caretaker of works of art, rather than simply an owner. I have been fortunate enough to have shared 10 great years with this truly iconic painting by Basquiat and it is time to put it back into circulation and let someone else enjoy it as much as I have over the last decade."
The artwork will go under the hammer on 12 November (08) and is expected to beat the existing record for a Basquiat piece, which was set at $12.95 million (GBP7 million) in 1981.