Representatives of Art Basel were not immediately available to comment. The identity of the buyer was never disclosed by the gallery.
Cattelan previously created an 18-carat gold toilet that New York's Guggenheim Museum offered to lend to U.S. President Donald Trump in 2018. The $5 million toilet was stolen from Britain's Blenheim Palace in September.Truck drivers have been suffering in 2019 — especially those who own or work at small businesses.
Rates in the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, sank by around 15% year-over-year in Aug. That has caused truckers like Demetrius Wilburn, a Georgia-based driver, to find themselves unemployed.
Wilburn bought his semitruck four years ago after years of working as a company truck driver. But amid rock-bottom rates, Wilburn wasn't able to make a payment one month — and his truck was repossessed.
"I was only six months away from paying it off," Wilburn told Business Insider. "I'm trying to transition back into law enforcement now — don't want to ever drive trucks again. Definitely not worth it."The Lexington, Kentucky-based owner-operator Chad Boblett told Business Insider that some truck drivers were seeing a "bloodbath" in just how low rates had become.
In the first half of 2019, around 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the amount of bankruptcies from the same period last year — 175.
Here are some of the larger trucking companies that have gone bankrupt in 2019, and how many truckers who are now out of a job. We used the Federal Motor Carrier Safety Administration's company-snapshot tool to measure how many truck drivers worked at each company.