Why Jean-Michel Basquiat Still Matters and Why His Art Costs Hundreds of Millions

Why Jean-Michel Basquiat Still Matters and Why His Art Costs Hundreds of Millions

You’ve probably seen the crown. It’s everywhere. It’s on T-shirts at Uniqlo, printed on coffee mugs, and tattooed on the forearms of people who might not even know who Jean-Michel Basquiat actually was. He's become a brand, honestly. But before he was a corporate-friendly icon, he was a kid from Brooklyn sleeping on park benches and scrawling SAMO© on the walls of Lower Manhattan.

He changed everything.

Basquiat didn't just paint; he attacked the canvas with a frantic, desperate energy that felt like jazz. People call him a "Neo-Expressionist," which is just a fancy way of saying he used raw emotion and messy lines instead of trying to make things look pretty. He was the first Black artist to truly break into the white-dominated elite art world on his own terms. He didn't ask for permission. He just showed up.

The Myth vs. The Man: Who Was Jean-Michel Basquiat?

Most people think he was just some "street kid" who got lucky. That’s actually kinda wrong. Basquiat was middle-class. His father was a Haitian-born accountant, and his mother was Puerto Rican. He spoke three languages. He spent his childhood wandering the halls of the Brooklyn Museum, not just dodging subway guards.

When he was seven, he got hit by a car. It was a mess. While he was recovering, his mother gave him a copy of Gray’s Anatomy. That book changed his life. You see it in almost every Jean-Michel Basquiat painting—the exposed ribs, the skulls, the labels of organs. He was obsessed with how bodies work and, more importantly, how they break.

By the time he was 17, he dropped out of school. His dad kicked him out. He started selling hand-painted postcards and sweatshirts just to buy art supplies. He lived on the streets, but he was also incredibly calculating about his fame. He knew exactly what he was doing when he started tagging buildings near the galleries where the "important" people hung out.

Why the SAMO tags were a genius marketing move

SAMO stood for "Same Old Shit." It was a collaboration with his friend Al Diaz. They weren't just doing graffiti; they were writing poetry on the walls. "SAMO© AS AN ALTERNATIVE TO GOD." "SAMO© AS AN ALTERNATIVE TO PLAYING ART WITH THE RADICAL CHIC."

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It was a middle finger to the establishment. But it was also a calling card. By the time he killed off the persona—writing "SAMO IS DEAD" all over Soho—the art world was already looking for him. They wanted the next big thing, and Basquiat, with his dreadlocks and paint-splattered Armani suits, was exactly what they craved.

The Art of Chaos: Decoding the Symbols

If you look at a Jean-Michel Basquiat piece for more than ten seconds, you start to realize it's not just random scribbling. It’s a map. He used a visual language of crowns, skulls, and words that he would often cross out. Why cross them out? He said it was so you would want to read them more.

The crown is the big one. Usually, it has three peaks. He used it to "enthrone" his heroes. He painted crowns on Black athletes like Jesse Owens and Muhammad Ali, and jazz musicians like Charlie Parker. In a world that ignored Black excellence, Basquiat literally made them kings.

  1. Dichotomies: He was obsessed with the gap between rich and poor, Black and white, internal and external.
  2. Text as Image: To him, words were shapes. He’d write "MILK" or "SALT" or "TAX" over and over until they lost meaning and just became texture.
  3. The Anatomy: Those Gray’s Anatomy sketches never left him. He saw the human form as something fragile.

It's messy. It’s loud. It’s honestly a bit overwhelming if you see it in person at a place like the Broad in LA or the Brant Foundation in New York. There’s a painting called Untitled (1982)—the one with the massive skull—that sold for over $110 million back in 2017. Why? Because you can feel the anxiety radiating off the canvas. It feels like 1980s New York: dangerous, expensive, and vibrating with electricity.

The Warhol Connection: More Than Just a Friendship

You can't talk about Basquiat without talking about Andy Warhol. It was the ultimate "odd couple" of the 80s. Warhol was the aging king of Pop Art who had lost his edge; Basquiat was the young, feral genius who needed a mentor.

They worked together. Literally. They would share canvases. Warhol would paint a corporate logo like General Electric, and then Basquiat would come in and scribble over it, defacing the "clean" image with something raw. Some critics thought Warhol was just using Basquiat to stay relevant. Others thought Basquiat was using Warhol for the social status.

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The truth? It was probably both. They ate lunch together every day. They exercised together. When Warhol died in 1987, Basquiat was devastated. He spiraled. He felt like he had lost his protector in a world that mostly saw him as a mascot or a paycheck.

Why Do His Paintings Cost $100 Million Now?

It's a mix of talent, scarcity, and the "James Dean" effect. Basquiat died at 27 from a heroin overdose. He only had a decade-long career. There are only so many authentic Jean-Michel Basquiat works out there, and the biggest hedge fund billionaires in the world want them.

Yusaku Maezawa, the Japanese billionaire, is the one who dropped that $110.5 million. He said he bought it because he felt a "burst of joy" looking at it. But let's be real: these paintings are also better than gold for the ultra-wealthy. They are portable, high-yield assets.

But for the rest of us, the value isn't in the price tag. It's in the fact that his work still feels modern. You look at a Basquiat from 1983 and it looks like it could have been painted yesterday in a studio in Bushwick. It deals with police brutality (The Death of Michael Stewart), racism, and the grind of capitalism. These are the same things we’re still yelling about today.

The Problem with Posthumous Fame

There is a dark side to this. Because he died so young and without a will, his estate became a battlefield. There have been massive lawsuits over "fake" Basquiats. In 2022, the FBI actually raided the Orlando Museum of Art because they were showing 25 "newly discovered" Basquiats that turned out to be totally fake. One of them was painted on a piece of cardboard that had a shipping label from a company that didn't even use that specific typeface until after Basquiat died.

It’s wild. People are so desperate to own a piece of him that they’ll ignore the obvious signs of a con.

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How to Truly Experience Basquiat's Legacy

If you want to understand him, don't just look at the paintings on a screen. You have to hear the music he liked. He was part of a band called Gray. They played "noise music." It was abrasive and weird. That’s the soundtrack to his art.

He lived at a time when hip-hop was just being born in the Bronx, and the punk scene was dying in the East Village. He was the bridge between those two worlds. He was the first person to show that "street art" wasn't just vandalism—it was high art.

  • Visit the permanent collections: The MoMA and the Whitney in New York have some of the most important pieces.
  • Watch the documentaries: The Radiant Child by Tamra Davis is the gold standard. She was his friend and filmed him in his studio, so you see the real guy, not the myth.
  • Look past the hype: Ignore the auctions. Look at the drawings. His notebooks are where his real genius lives—hundreds of pages of poems, grocery lists, and sketches that show a mind that never, ever stopped moving.

Actionable Steps for Art Enthusiasts and Collectors

If you're looking to engage with Basquiat’s work today, you don't need $100 million. Here is how to actually digest his impact without the elitist fluff.

Research the Estate and Authentication If you are ever in a position to buy prints or "originals," be incredibly wary. The Basquiat estate disbanded its authentication committee years ago. This means the market is flooded with high-quality fakes. Always demand a rock-solid provenance (the history of who owned the piece) going back to the 1980s. If the story sounds like "found in a basement," run away.

Study the "Black Protagonist" Take a deep dive into how Basquiat portrayed Black figures. He often used white paint to outline Black faces or left parts of the canvas "unfinished" to represent the fragmented identity of Black men in America. Comparing his work to contemporaries like Keith Haring or Francesco Clemente highlights how much more political his "messiness" actually was.

Support the Modern Descendants The best way to honor Basquiat isn't to buy a $50 poster at a museum gift shop. It’s to look at the artists he cleared the path for. Artists like Rashid Johnson, Rick Lowe, and even the high-end streetwear designers like the late Virgil Abloh owe a massive debt to Basquiat. He proved that you could be from the "outside" and still own the room.

The tragedy of Basquiat isn't just that he died young. It's that he became exactly what SAMO© warned about: a commodity. But if you look closely at the canvas—past the price tag and the celebrity status—you can still see the kid who wanted to be a king. And in the end, he actually pulled it off.

To truly appreciate the scope of his work, start by analyzing the 1981-1982 period. This is widely considered his "peak" where the transition from street walls to canvas achieved its most potent balance. Look for the use of "oilstick"—a medium that allowed him to draw while he painted—giving his work that signature shaky, urgent line that defines the era. Through this lens, the work stops being "graffiti" and starts being a sophisticated dialogue with the history of Western art.