if you hadn’t heard of art collector Yusaku Maezawa before he spent $110.5 million on a painting by Jean-Michel Basquiat at Sotheby’s New York in May, then chances are that you probably have now, such was the extent of the media coverage surrounding the sale, which set a new auction record for a work by an American artist. “When I encountered the painting at the Sotheby’s New York preview, I had an immediate, visceral connection to it,” says Maezawa of Basquiat’s 1982 untitled work. “Generationally, I relate to Basquiat’s culture and the essence of his life story.” Clearly, the Japanese collector is not in the market simply to make a buck. “Rather than monetary or investment value,” he says, “I felt I had a personal responsibility to take care of this masterpiece and preserve it for the next generation. This Basquiat was first exhibited inTokyo in 1985. For Japan, this was an art historical moment. To have encountered such a superb painting gives me great joy from the bottom of my heart.I feel privileged and honored to own it.” The billionaire fashion mogul—Maezawa is the founder and president of Start Today Co., Ltd., which runs Japan’s biggest online fashion mall, Zozotown—set the previous record for Basquiat when he bought a self-portrait by the artist for $57.3 million at Christie’s New York in May 2016.His collection also includes works by Jeff Koons, Bruce Nauman, Pablo Picasso, Richard Price, Jonas Wood, and Christopher Wool, among others. Maezawa’s enthusiasm for his latest purchase, however, is something special. “When I first encountered Basquiat’s Untitled, I couldn’t look at the painting directly. I was struck by the tremendous beauty and power of it, moved almost to the point of tears,” he says. “Once some time passed, and I was able to closely inspect the painting,” he continues, “I was able to see his artistic process. Underneath the bright blue surface, one can trace how Basquiat painted with oil sticks and spray paint, boldly at times and carefully at other times. To me, the letters ‘Aa’ painted in the bottom left corner confidently announce his first steps into the art world.An excellent combination of power and delicacy in composition and color scheme, I regard this master painting as the embodiment of Basquiat’s art.” Maezawa has achieved a lot in a relatively short period of time, having only been collecting in a serious manner for a decade. “I have always had a great admiration for creativity and craftsmanship,” he says. “Fashion and music have always been of interest, yet I had very little interaction with fine art, having hardly stepped foot in a museum. This all changed about a decade ago, when I first began acquiring art simply to fill the blank walls in my house.” He has already established the Tokyo-based Contemporary Art Foundation, whose stated aim is “to contribute to the promotion of contemporary art by helping young artists and young musicians improve their skills.” He’s also in the process of building a private museum in his home city of Chiba in Japan—a project that is driving his recent art buying spree. But he’s not revealing too much about it as this stage. “At this moment in time, I would prefer to keep that information a secret,” Maezawa says. “However, I will say that I hope to build an environment where visitors, regardless of age or background, will be moved by the art.” There’s plenty to like about Maezawa. His philanthropic endeavors, collecting activities, and his attitude and perception of the art market all suggest that he’s the sort of collector that should be supported—and he’s a wonderfully likable person to boot.
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