Just six years after purchasing Jean-Michel Basquiat’s 1982 painting 'Untitled (Devil)' at Christie's for $57.3 million, Japanese retail mogul Yusaka Maezawa is parting with the prized work. Scheduled to hit the auction block at Phillips during a contemporary art evening sale in New York this May, the work carries an estimate of $70 million and is backed by a financial guarantee. It is poised to become the most expensive lot that the house has ever sold. “We have been building toward this moment for the past several years,”. Source:ARTnews