Zozo CEO Maezawa to Sell Some of His Art Collection at Sotheby's

(Bloomberg) -- Zozo Inc. founder and CEO Yusaku Maezawa said in a tweet Saturday that he plans to sell part of his much-publicized art collection, including a work by Andy Warhol, at a Sotheby’s auction on May 16.

Zozo CEO Maezawa to Sell Some of His Art Collection at Sotheby's

Maezawa said he wants to sell the artworks to buyers who can take proper care of them. The Japanese billionaire made a splash in the art world in 2017 when he spent $110.5 million on a single Jean-Michel Basquiat painting at a Sotheby’s auction, setting a record for an American artist’s work at the time.

Maezawa resumed Twitter activity last month after announcing in February that he was taking a break from the social-media platform.

The forecast for operating income at Zozo, Japan’s second-largest online shopping site, missed analysts’ estimates last month.

©2019 Bloomberg L.P.