Crypto boss who bought a $6 million banana offers to buy 100,000 more

NEW YORK: A week after a Chinese cryptocurrency entrepreneur bought an artwork composed of a fresh banana stuck to a wall with duct tape for $6.2 million at auction, the man, Justin Sun, announced a grand gesture on X. He said he planned on purchasing 100,000 bananas – or $25,000 worth of the produce – from the Manhattan stand where the original fruit was sold for 25 cents.
But at the fruit stand, outside the doors of the Sotheby’s where the conceptual artwork was sold, the offer landed with a thud against the realities of the life of a New York City street vendor. It would cost thousands of dollars to procure that many bananas from a Bronx wholesale market, said Shah Alam, the 74-year-old employee from Bangladesh who sold the original banana used in “Comedian”, an absurdist commentary on the art world by Italian artist Maurizio Cattelan. And, it wouldn’t be easy to move that many bananas, which come in boxes of about 100.
And then there is the math: The net profit from the purchase of 100,000 bananas by Sun – who once bought a nonfungible token of a pet rock for more than $600,000 – would be about $6,000. “There’s not any profit in selling bananas,” Alam said. Plus, as an employee who makes $12 an hour during 12-hour shifts, Alam pointed out that any money would by rights belong to the fruit stand’s owner, not him. The stand’s owner, Mohammad Islam, 53, said he would split any profit between himself, Alam and the six other people he employs at his two fruit stands.
Working in the rain on Thanksgiving Day, Islam’s brother, Mohammad Alam Badsha (not related to Alam) said he would welcome the bulk purchase. But it would have little tangible impact to fruit vendors, Badsha said. “It’s definitely an inequality,” he said in Bengali. He added a Bangladeshi idiom: It was the difference between heaven and hell.