Coin Press - Banana taped to a wall sells for $6.2 mn in New York

The debut of the edible creation entitled "Comedian" at the Art Basel show in Miami Beach in 2019 sparked controversy and raised questions about whether it should be considered art -- Cattelan's stated aim.

Chinese-born crypto founder Justin Sun on Wednesday forked over more than six million for the fruit and its single strip of silver duct tape, which went on sale for 120,000 dollars five years ago.

"This is not just an artwork. It represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community," Sun was quoted as saying in the Sotheby's statement.

"I believe this piece will inspire more thought and discussion in the future and will become a part of history."

The sale featured seven potential buyers and smashed expectations, with the auction house issuing a guide price of $1-1.5 million before the bidding.

Given the shelf life of a banana, Sun is essentially buying a certificate of authenticity that the work was created by Cattelan as well as instructions about how to replace the fruit when it goes bad.

The installation auctioned on Wednesday was the third iteration -- with the first one eaten by performance artist David Datuna, who said he felt "hungry" while inspecting it at the Miami show.

Sun, who founded cryptomoney exahange Tron, said that he intended to eat his investment too.

"In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture," he said.

As well as his banana work, Cattelan is also known for producing an 18-carat, fully functioning gold toilet called "America" that he once offered on loan to Donald Trump during his first term in the White House.

D.Goldberg--CPN