Jean-Michel Basquiat

Mesmerizing carousels and Ferris wheels designed by Keith Haring, Jean-Michel Basquiat and Kenny Scharf that spin to music by Miles Davis or Philip Glass: This is "Luna Luna: Forgotten Fantasy."

With works designed by prominent 20th-century artists, the resurrected show bills itself as the world's first art amusement park, a one-of-a-kind psychedelic fair.

There are vanishingly few great collaborations in the annals of fine art. For a brief moment in the 1980s, Andy Warhol and Jean-Michel Basquiat showed the world how it was done.

It started with a bang. Warhol, 54, met Basquiat, 22, for lunch in October 1982 and took a polaroid of them together.

FBI agents seized all 25 works at a Jean-Michel Basquiat exhibit in Florida amid questions about their authenticity, the museum which was showing them said on June 25.

Japanese billionaire Yusaku Maezawa, who blasts off for the International Space Station this week, is an irreverent space enthusiast who has made headlines for splashing the cash on modern art.

The 46-year-old tycoon is the founder of Japan's largest online fashion mall and is the country's 30th-richest person, according to business magazine Forbes.

Pablo Picasso's "Woman Sitting Near a Window (Marie-Therese)" sold on May 13 for $103.4 million at Christie's in New York, the auction house said.

The painting, completed in 1932, was sold after 19 minutes of bidding for $90 million, which rose to $103.4 million when fees and commissions were added, Christie's said.

Jean-Michel Basquiat's painting "In this Case" sold for $93.1 million in an auction on May 11 at Christie's in New York, the second-highest price paid for a work by the late artist.

The 1983 painting, which depicts a skull on a red background, sold for $81 million, but with fees and commissions the final price came to $93.1 million, well above the estimate of $50 million.

Two new artworks by Banksy have appeared at the Barbican centre in central London, reported The Guardian.

The murals, inspired by the upcoming Jean-Michel Basquiat exhibition at the centre, were confirmed as genuine on the artist's verified Instagram account.

Jean-Michel Basquiat enjoys a stratospheric following; earlier this year, a 1982 oil painting by the late 20th century great became the most expensive work by a US artist ever sold at auction. But 29 years after his death, his legacy is largely a triumph of popular culture over museums, which have been accused of downplaying his stature.

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

A bronze sold for $57.37 million in New York on May 15, setting a new auction record for Romanian-born sculptor Constantin Brancusi and fetching more than twice its lowest pre-sale estimate, Christie's said.