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Billionaire Maezawa rings in new era for art in Japan

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


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...