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Billionaire Maezawa rings in new era for art in Japan

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"I'm happy that good works by young artists with limited chances will see the light of day by my purchasing them." - Yusaku Maezawa

Tokyo

WITH a single post on Instagram, Yusaku Maezawa announced not only his purchase of a US$110.5 million Basquiat masterpiece, and his place in auction history, but arguably signalled a new era for art in Japan.

The price, a record for the artist, is reminiscent of 1980s Japan

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