P. Diddy bought a painting by Kerry James Marshall this week for $21 million, which is a near record for a living artist.
The painting, “Past Times,” depicts black Chicago in the past and hung in the South Building of McCormick Place since it was acquired in 1997, the Chicago Tribune reported. It was originally bought for $25,000 and was not expected to go above $12 million.
The painting was acquired by hip-hop mogul P. Diddy, whose given name is Sean Combs, with the help of his art adviser Maria Brito, the Tribune reported. Other artists in Combs’ art collection include Ai Weiwei, Keith Haring, Andy Warhol, and Jean-Michel Basquiat.
Combs beat out three other collectors for the piece, the Daily Mail reported.
The surprisingly high sale price is expected to lead to other high prices for works by African-American artists in the market, the Tribune suggested.
Marshall’s dealer Jack Shainman told The New York Times, “I know that this work has found a home in a collection with purpose and an eye toward preserving legacy — that of Sean Combs, and that means a lot.”
Marshall was classically trained and counts Rembrandt and Veronese as some of his inspirations, the Times reported. Marshall has been a rising star in the museum world in recent years, with major shows at the Met Breuner and the Museum of Contemporary Art in Chicago and Los Angeles.
Combs came to Sotheby’s to view the work before purchasing it, the Times reported. He was introduced to Marshall’s work by fellow hip-hop artist and producer Swizz Beatz, who is an avid collector of Marshall with his wife Alicia Keys.
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