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This image released by Christie's auction house on Friday April 12, 2013, shows a Jean-Michel Basquiat painting titled "Dustheads" that could sell for as much as $35 million at a May 15 auction. Basquiat's painting has set a new auction record for the graffiti artist at a sale of postwar and contemporary art in New York. Christie's says "Dustheads" sold for $48.8 million on Wednesday. (AP Photo/Christie's) Copyright 2013, The Associated Press

Basquiat painting fetches record $48.8M in NY

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NEW YORK (AP) — A Jean-Michel Basquiat (zhahn mee-SHEHL' BAH'-skee-aht) painting has set a new auction record for the graffiti artist at a sale of postwar and contemporary art in New York.

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Christie's says "Dustheads" sold for $48.8 million on Wednesday.

His "Untitled," a painting of a black fisherman, held the previous record when it sold for $26.4 million last November.

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