Jean-Michel Basquiat's Untitled

"Untitled," a 1982 painting by Jean-Michel Basquiat, brought $110.5 million during a 10-minute bidding war at Sotheby's yesterday, making it the highest priced artwork sold at auction for any piece created after 1980. The graffiti-leaning skull masterpiece is also the sixth most expensive work ever sold at auction, putting him in the same league as Picasso and Francis Bacon. That also means that Basquiat, the brilliant Manhattan artist who died at only age 27 in 1988, has painted the most expensive piece by an American artist ever sold, breaking a record held by his good friend Andy Warhol.

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