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.

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.

To contact the reporter on this story: Toru Fujioka in Tokyo at tfujioka1@bloomberg.net

To contact the editors responsible for this story: Brett Miller at bmiller30@bloomberg.net, Stanley James, Will Davies

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