In one of the most high-profile art auctions of 2025, four important artworks—including pieces by Jean-Michel Basquiat and Pablo Picasso—that were linked to the massive 1Malaysia Development Berhad (1MDB) corruption scandal fetched a combined $36 million at auction held by the US Marshals Service. These artworks, previously owned by actor Leonardo DiCaprio and financier Jho Low, symbolically connect the worlds of contemporary art, celebrity, and global financial crime.

The Artworks and Their Controversial Provenance

The auction featured Basquiat’s neo-expressionist masterpiece Red Man One (1982), which sold for $22 million, more than double its previous recorded price. This powerful six-foot-tall work was initially purchased by Jho Low from a Manhattan gallery in 2012 with misappropriated funds, according to US prosecutors. Also sold was Basquiat’s Self-Portrait (1982), alongside Picasso’s 1939 still life Tête de Taureau et Broc, which realized $5 million—well above its $3.28 million purchase price financed by 1MDB funds.

Adding to the collection’s intrigue was Diane Arbus’s photograph Child with a Toy Hand Grenade in Central Park, NYC (1962), which had a more modest final sale price of around $500,000. This photograph, purchased by Jho Low and gifted to DiCaprio, reflects the colorful yet scandal-tied history that these artworks carry.

The 1MDB Scandal: Art at the Intersection of Corruption and Recovery

The 1MDB scandal, named for the Malaysian sovereign wealth fund from which over $4.5 billion was reportedly stolen between 2009 and 2015, stands as one of the largest global financial frauds in recent history. Jho Low, the alleged mastermind, used the illicit funds to acquire exorbitant assets, including high-value artworks, luxury real estate, and extravagant lifestyles.

The US Justice Department has been aggressively recovering assets tied to the scandal, including seizing and auctioning artworks. Leonardo DiCaprio surrendered the Basquiat and Picasso pieces amid investigations, having been gifted the works by Low as part of the complex web of transactions. These auctions, facilitated by Austin-based Gaston & Sheehan Auctioneers under the US Marshals Service contract, aim to reclaim funds for the Malaysian people.

Auction Dynamics and Market Responses

The auction played out online with initially low bids that surged dramatically as the event closed, demonstrating lively demand despite the artworks’ complicated background. Art advisors noted that the value of these works remained consistent with the broader art market trends, though the auction platform’s design and provenance complexities deterred some prospective bidders.

This auction highlighted how contemporary art and historically significant pieces can become entangled in geopolitical and financial controversies, impacting their market trajectories.

Image Sources and Keywords

• Images of Basquiat’s Red Man One (1982) and Self-Portrait (1982) from previous museum exhibitions and auction catalogues.

• Photographs of Picasso’s Tête de Taureau et Broc and Diane Arbus’s Child with a Toy Hand Grenade.

• Event photos from the US Marshals auction platform and related press imagery.

• Visual coverage of Leonardo DiCaprio and deposits of the artworks during official investigations.

Keywords with Anchor Text Links Positioned in Paragraphs

• emblematic Basquiat neo-expressionist artwork

• Pablo Picasso still life masterpiece

• high-profile 1MDB corruption scandal

• recovered assets auctioned by US Marshals Service

• complex art provenance and celebrity art collections

• global financial crime linked to money laundering

FAQ

What artworks were included in the 1MDB-linked auction?

The auction included Jean-Michel Basquiat’s Red Man One and Self-Portrait, Pablo Picasso’s Tête de Taureau et Broc, and Diane Arbus’s Child with a Toy Hand Grenade in Central Park.

How are these artworks connected to the 1MDB scandal?

Malaysian financier Jho Low, who orchestrated the 1MDB fraud, used diverted funds to acquire these artworks, some of which were gifted to actor Leonardo DiCaprio and later surrendered to US authorities.

How much money was raised at the auction?

The combined final bids totaled approximately $36 million, helping to recover part of the funds stolen from the Malaysian public through the 1MDB scheme.

Who conducted the auction and where?

The sale was conducted online by Gaston & Sheehan Auctioneers on behalf of the US Marshals Service, based in Pflugerville, Texas.

What is the significance of this auction in the art market?

It illustrates how art can intersect with global financial crime and underscores the challenges of provenance and market confidence when dealing with artworks tied to legal controversies.